Angeles Wealth Management LLC Acquires 231 Shares of American Tower Co. (NYSE:AMT)

Angeles Wealth Management LLC grew its holdings in American Tower Co. (NYSE:AMT) by 13.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,913 shares of the real estate investment trust’s stock after purchasing an additional 231 shares during the period. Angeles Wealth Management LLC’s holdings in American Tower were worth $351,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CWM LLC boosted its holdings in shares of American Tower by 0.6% in the third quarter. CWM LLC now owns 12,517 shares of the real estate investment trust’s stock worth $2,911,000 after acquiring an additional 78 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in American Tower by 300.6% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,297 shares of the real estate investment trust’s stock worth $766,000 after purchasing an additional 2,474 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in American Tower by 6.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 4,908 shares of the real estate investment trust’s stock worth $1,141,000 after purchasing an additional 315 shares during the period. Ritholtz Wealth Management grew its holdings in American Tower by 20.6% during the 3rd quarter. Ritholtz Wealth Management now owns 5,443 shares of the real estate investment trust’s stock valued at $1,266,000 after buying an additional 930 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of American Tower by 153.3% during 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 during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Up 0.5 %

Shares of AMT opened at $189.85 on Tuesday. The firm has a market cap of $88.71 billion, a P/E ratio of 80.10, a P/E/G ratio of 1.27 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a 50 day simple moving average of $188.44 and a two-hundred day simple moving average of $209.63. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Insider Buying and Selling

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 value of $3,000,283.70. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AMT shares. Barclays reduced their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Mizuho lowered their price objective 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. BMO Capital Markets reduced their target price 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. Finally, JMP Securities assumed coverage on American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

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.