American Tower Co. (NYSE:AMT) Shares Purchased by HHM Wealth Advisors LLC

HHM Wealth Advisors LLC raised its position in American Tower Co. (NYSE:AMT) by 360.9% in the 4th quarter, Holdings Channel reports. The fund owned 2,618 shares of the real estate investment trust’s stock after purchasing an additional 2,050 shares during the period. HHM Wealth Advisors LLC’s holdings in American Tower were worth $480,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMT. U.S. Capital Wealth Advisors LLC boosted its stake in shares of American Tower by 118.7% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 10,084 shares of the real estate investment trust’s stock valued at $1,850,000 after purchasing an additional 5,473 shares during the period. Cross Staff Investments Inc lifted its holdings in American Tower by 5.3% in the 4th quarter. Cross Staff Investments Inc now owns 6,007 shares of the real estate investment trust’s stock worth $1,102,000 after buying an additional 300 shares in the last quarter. Golden State Equity Partners boosted its position in American Tower by 145.7% in the 4th quarter. Golden State Equity Partners now owns 1,221 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 724 shares during the last quarter. Spire Wealth Management grew its stake in shares of American Tower by 84.5% during the fourth quarter. Spire Wealth Management now owns 8,550 shares of the real estate investment trust’s stock valued at $1,568,000 after acquiring an additional 3,916 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in shares of American Tower by 0.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,262 shares of the real estate investment trust’s stock worth $2,432,000 after acquiring an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.5 %

Shares of NYSE AMT opened at $184.91 on Monday. The company has a market cap of $86.41 billion, a price-to-earnings ratio of 78.02, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. The stock’s 50 day simple moving average is $190.58 and its 200 day simple moving average is $210.44. 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 12-month low of $170.46 and a 12-month high of $243.56.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insider Transactions at American Tower

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 completion of the transaction, the chief financial officer now directly owns 62,792 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

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

American Tower 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.