Wilmington Savings Fund Society FSB Raises Stock Position in American Tower Co. (NYSE:AMT)

Wilmington Savings Fund Society FSB lifted its stake in American Tower Co. (NYSE:AMT) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fortitude Family Office LLC grew its holdings in shares of American Tower by 269.0% during the third 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 last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the 3rd quarter valued at about $30,000. Hara Capital LLC purchased a new position in American Tower during the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new position in American Tower during the third quarter worth approximately $34,000. Finally, Activest Wealth Management lifted its stake in 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 buying an additional 125 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

American Tower stock opened at $188.91 on Monday. The company has a market cap of $88.28 billion, a P/E ratio of 79.71, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The business has a fifty day moving average of $188.44 and a two-hundred day moving average of $209.63. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Ratings Changes

AMT has been the topic of a number of recent research reports. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. JMP Securities started 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. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Barclays dropped their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Scotiabank decreased their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $226.23.

Insiders Place Their Bets

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