Kentucky Retirement Systems Insurance Trust Fund Buys 146 Shares of American Tower Co. (NYSE:AMT)

Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of American Tower Co. (NYSE:AMT) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,975 shares of the real estate investment trust’s stock after purchasing an additional 146 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in American Tower were worth $2,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after acquiring an additional 635,726 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of American Tower by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock worth $2,599,074,000 after acquiring an additional 204,426 shares during the last quarter. FMR LLC lifted its holdings in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in American Tower by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock valued at $1,211,397,000 after purchasing an additional 243,061 shares during the period. Finally, Franklin Resources Inc. increased its position in American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after purchasing an additional 38,436 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Down 0.3 %

American Tower stock opened at $189.41 on Tuesday. The firm has a 50 day moving average of $186.70 and a 200 day moving average of $208.71. The firm has a market capitalization of $88.51 billion, a price-to-earnings ratio of 79.92, a P/E/G ratio of 1.27 and a beta of 0.84. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower Dividend Announcement

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

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank dropped their price target 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, Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.79.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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.