Summit Trail Advisors LLC Buys 87 Shares of American Tower Co. (NYSE:AMT)

Summit Trail Advisors LLC raised its stake in shares of American Tower Co. (NYSE:AMT) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,412 shares of the real estate investment trust’s stock after acquiring an additional 87 shares during the quarter. Summit Trail Advisors LLC’s holdings in American Tower were worth $1,186,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Exchange Traded Concepts LLC increased its stake in shares of American Tower by 153.3% in the third quarter. Exchange Traded Concepts LLC now owns 6,994 shares of the real estate investment trust’s stock valued at $1,627,000 after buying an additional 4,233 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in shares of American Tower in the third quarter valued at $454,000. Thomasville National Bank acquired a new stake in shares of American Tower in the third quarter valued at $209,000. ORG Partners LLC increased its stake in shares of American Tower by 4.3% in the third quarter. ORG Partners LLC now owns 2,063 shares of the real estate investment trust’s stock valued at $481,000 after buying an additional 85 shares in the last quarter. Finally, Fiduciary Alliance LLC increased its stake in shares of American Tower by 33.9% in the third quarter. Fiduciary Alliance LLC now owns 1,717 shares of the real estate investment trust’s stock valued at $399,000 after buying an additional 435 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMT shares. Wells Fargo & Company lowered their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. BMO Capital Markets lowered their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. Scotiabank lowered 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. Finally, Mizuho lowered their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Four research 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. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average target price of $226.23.

American Tower Trading Up 1.9 %

NYSE:AMT opened at $193.45 on Wednesday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $90.40 billion, a PE ratio of 81.63, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The business’s 50-day simple moving average is $188.09 and its 200-day simple moving average is $209.49.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.35%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is 273.42%.

Insider Buying and Selling at American Tower

In other American Tower 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 value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

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.