Tyche Wealth Partners LLC Boosts Position in American Tower Co. (NYSE:AMT)

Tyche Wealth Partners LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 12.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,431 shares of the real estate investment trust’s stock after buying an additional 162 shares during the quarter. Tyche Wealth Partners LLC’s holdings in American Tower were worth $263,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMT. Fortitude Family Office LLC raised its position in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in American Tower during the 3rd quarter worth approximately $30,000. Hara Capital LLC purchased a new position in American Tower during the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC purchased a new position in American Tower during the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management raised its position in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

American Tower stock opened at $189.69 on Friday. The company’s fifty day moving average price is $189.23 and its 200 day moving average price is $209.91. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a market capitalization of $88.64 billion, a P/E ratio of 80.04, a P/E/G ratio of 1.24 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.42%. American Tower’s payout ratio is currently 273.42%.

Analyst Ratings Changes

AMT has been the subject of a number of recent research reports. Mizuho reduced their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets dropped their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, JMP Securities began coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.