One Plus One Wealth Management LLC Boosts Stock Holdings in American Tower Co. (NYSE:AMT)

One Plus One Wealth Management LLC raised its stake in American Tower Co. (NYSE:AMT) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,868 shares of the real estate investment trust’s stock after purchasing an additional 260 shares during the quarter. One Plus One Wealth Management LLC’s holdings in American Tower were worth $709,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Balentine LLC purchased a new position in American Tower in the third quarter valued at approximately $586,000. Nordea Investment Management AB increased its position in shares of American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of American Tower in the 3rd quarter valued at $1,156,000. Brookstone Capital Management lifted its holdings in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after acquiring an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management boosted its position in American Tower by 5.5% during the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after purchasing an additional 22,523 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

AMT opened at $189.54 on Thursday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $88.57 billion, a P/E ratio of 79.97, a PEG 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 company has a 50-day moving average of $187.80 and a 200-day moving average of $209.34.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. American Tower’s payout ratio is 273.42%.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AMT shares. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. The Goldman Sachs Group reduced their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Mizuho lowered their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Barclays dropped their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.