Golden State Wealth Management LLC Purchases Shares of 300 American Tower Co. (NYSE:AMT)

Golden State Wealth Management LLC acquired a new position in shares of American Tower Co. (NYSE:AMT) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 300 shares of the real estate investment trust’s stock, valued at approximately $55,000.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after purchasing an additional 635,726 shares in the last quarter. Geode Capital Management LLC raised its position in shares of American Tower by 1.9% during 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 buying an additional 204,426 shares in the last quarter. FMR LLC lifted its stake 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 period. Charles Schwab Investment Management Inc. boosted its holdings in shares of American Tower by 4.9% in the third 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 acquiring an additional 243,061 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of American Tower by 0.9% during the third quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after acquiring an additional 38,436 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AMT shares. Scotiabank decreased their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. Finally, Barclays cut their target price 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. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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 company’s stock in a transaction dated 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 of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Stock Up 0.5 %

Shares of American Tower stock opened at $189.85 on Tuesday. 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 Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a 50-day moving average price of $188.44 and a 200 day moving average price of $209.63. The company has a market cap of $88.71 billion, a P/E ratio of 80.10, a P/E/G ratio of 1.27 and a beta of 0.84.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s payout ratio is presently 273.42%.

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.