American Tower Co. (NYSE:AMT) Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd grew its holdings in American Tower Co. (NYSE:AMT) by 232.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,362 shares of the real estate investment trust’s stock after acquiring an additional 25,419 shares during the period. American Tower comprises approximately 0.4% of Y Intercept Hong Kong Ltd’s portfolio, making the stock its 22nd largest position. Y Intercept Hong Kong Ltd’s holdings in American Tower were worth $6,669,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. FMR LLC lifted its stake in American Tower by 25.4% in the third 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. Adelante Capital Management LLC raised its holdings in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after purchasing an additional 1,160,890 shares in the last quarter. State Street Corp lifted its position in shares of American Tower by 3.1% during 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 purchasing an additional 635,726 shares during the last quarter. KBC Group NV lifted its position in shares of American Tower by 270.4% during the 3rd quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock worth $108,553,000 after purchasing an additional 340,742 shares during the last quarter. Finally, Brookfield Corp ON grew its stake in shares of American Tower by 88.3% during the third quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock worth $165,286,000 after purchasing an additional 333,209 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Down 0.5 %

Shares of American Tower stock opened at $191.32 on Monday. The company’s fifty day moving average is $185.67 and its two-hundred day moving average is $207.36. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $89.40 billion, a P/E ratio of 80.73, a PEG ratio of 1.29 and a beta of 0.84.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred 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 directly 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 can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. JMP Securities started coverage on American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Mizuho lowered their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.79.

American Tower Company 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.