Public Employees Retirement Association of Colorado lowered its stake in American Tower Co. (NYSE:AMT – Free Report) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,776 shares of the real estate investment trust’s stock after selling 1,630 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in American Tower were worth $12,591,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Fortis Capital Advisors LLC bought a new position in shares of American Tower in the fourth quarter valued at $220,000. Accretive Wealth Partners LLC lifted its position in American Tower by 9.4% in the 4th quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock valued at $958,000 after acquiring an additional 380 shares in the last quarter. Aveo Capital Partners LLC acquired a new position in American Tower during the 4th quarter valued at about $344,000. Gryphon Financial Partners LLC raised its stake in shares of American Tower by 17.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 10,950 shares of the real estate investment trust’s stock worth $2,472,000 after purchasing an additional 1,620 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of American Tower by 1.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 197,232 shares of the real estate investment trust’s stock valued at $426,000 after purchasing an additional 1,981 shares in the last quarter. 92.69% of the stock is owned by institutional investors.
American Tower Stock Up 1.2 %
Shares of NYSE AMT opened at $235.06 on Friday. The business has a 50-day moving average of $224.57 and a 200-day moving average of $202.42. The firm has a market capitalization of $109.77 billion, a price-to-earnings ratio of 53.18, a PEG ratio of 1.60 and a beta of 0.83. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $243.56.
American Tower Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.76%. American Tower’s dividend payout ratio (DPR) is currently 146.61%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on AMT. Deutsche Bank Aktiengesellschaft increased their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. TD Cowen increased their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 target price on the stock. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $233.29.
Get Our Latest Research Report on AMT
Insider Activity
In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,723 shares of company stock valued at $7,795,397. 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.
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