Sigma Planning Corp Raises Stock Holdings in American Tower Co. (NYSE:AMT)

Sigma Planning Corp raised its stake in American Tower Co. (NYSE:AMT) by 7.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,363 shares of the real estate investment trust’s stock after purchasing an additional 514 shares during the period. Sigma Planning Corp’s holdings in American Tower were worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Palumbo Wealth Management LLC grew its position in shares of American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after buying an additional 57 shares during the last quarter. Rehmann Capital Advisory Group increased its position in shares of American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares in the last quarter. Precedent Wealth Partners LLC lifted its holdings in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 58 shares during the last quarter. Fullcircle Wealth LLC boosted its position in shares of American Tower by 1.2% in the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 61 shares in the last quarter. Finally, Resonant Capital Advisors LLC increased its position in American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, 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 link. 0.18% of the stock is currently owned by insiders.

American Tower Stock Up 0.2 %

Shares of AMT stock opened at $191.88 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 twelve month low of $170.46 and a twelve month high of $243.56. The stock has a 50 day moving average of $185.63 and a 200 day moving average of $207.14. The stock has a market cap of $89.66 billion, a P/E ratio of 80.96, a P/E/G ratio of 1.29 and a beta of 0.84.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Scotiabank lowered their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company decreased their price target on shares of 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 assumed coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Morgan Stanley lowered their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, BMO Capital Markets cut their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $227.00.

About American Tower

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.