American Tower Co. (NYSE:AMT) Shares Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB raised its position in American Tower Co. (NYSE:AMT) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,295 shares of the real estate investment trust’s stock after buying an additional 626 shares during the period. Wilmington Savings Fund Society FSB’s holdings in American Tower were worth $1,521,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AMT. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares during the period. Northwest Investment Counselors LLC acquired a new stake in American Tower in the 3rd quarter valued at $30,000. Hara Capital LLC acquired a new position in American Tower during the third quarter worth $31,000. Legacy Investment Solutions LLC purchased a new position in American Tower during the third quarter valued at $34,000. Finally, Activest Wealth Management grew its position in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

American Tower stock opened at $188.91 on Monday. The company’s 50 day moving average is $188.44 and its two-hundred day moving average is $209.63. The firm has a market cap of $88.28 billion, a PE ratio of 79.71, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower Dividend Announcement

The business 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. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.43%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMT shares. BMO Capital Markets decreased their price target 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. Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays dropped their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. The Goldman Sachs Group lowered their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average target price of $226.23.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

About American Tower

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.