American Tower Co. (NYSE:AMT) Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC raised its position in American Tower Co. (NYSE:AMT) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,113 shares of the real estate investment trust’s stock after purchasing an additional 61 shares during the quarter. Resonant Capital Advisors LLC’s holdings in American Tower were worth $206,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AMT. Fortitude Family Office LLC boosted its holdings in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the period. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the 3rd quarter valued at about $30,000. Hara Capital LLC purchased a new position in shares of American Tower in the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management increased its holdings in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research reports. Scotiabank dropped their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company dropped 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. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $185.53 on Tuesday. 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 1 year low of $170.46 and a 1 year high of $243.56. The business has a fifty day simple moving average of $190.58 and a 200 day simple moving average of $210.42. The firm has a market cap of $86.70 billion, a price-to-earnings ratio of 78.28, a P/E/G ratio of 1.24 and a beta of 0.84.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.49%. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

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.