Roxbury Financial LLC Buys Shares of 174 American Tower Co. (NYSE:AMT)

Roxbury Financial LLC purchased a new position in shares of American Tower Co. (NYSE:AMT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 174 shares of the real estate investment trust’s stock, valued at approximately $32,000.

A number of other large investors also recently made changes to their positions in the business. State Street Corp lifted its stake 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 period. Geode Capital Management LLC lifted its stake 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 purchasing an additional 204,426 shares during the period. FMR LLC lifted its stake in shares of American Tower by 25.4% during 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 purchasing an additional 2,152,646 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of American Tower by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after purchasing an additional 243,061 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after purchasing an additional 38,436 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.3 %

Shares of American Tower stock opened at $189.41 on Friday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market capitalization of $88.51 billion, a PE ratio of 79.92, a P/E/G ratio of 1.27 and a beta of 0.84. 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 business has a 50-day moving average of $186.70 and a 200-day moving average of $208.89.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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 dividend yield of 3.42%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is 273.42%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Mizuho cut their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Scotiabank cut their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.79.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 directly owns 62,792 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Corporate 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.