Lockheed Martin Investment Management Co. Has $4.56 Million Holdings in American Tower Co. (NYSE:AMT)

Lockheed Martin Investment Management Co. raised its stake in American Tower Co. (NYSE:AMT) by 2.0% in the 4th quarter, HoldingsChannel reports. The fund owned 24,880 shares of the real estate investment trust’s stock after buying an additional 480 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in American Tower were worth $4,563,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Fortitude Family Office LLC increased its stake in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares during the period. Northwest Investment Counselors LLC bought a new position in American Tower in the third quarter valued at about $30,000. Hara Capital LLC acquired a new stake in American Tower in the third quarter worth about $31,000. Legacy Investment Solutions LLC bought a new stake in American Tower during the 3rd quarter worth about $34,000. Finally, Activest Wealth Management lifted its position in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the period. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Barclays cut 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 report on Tuesday, January 28th. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Mizuho cut their price target 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, Scotiabank cut their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Four 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 stock. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Stock Down 0.6 %

Shares of AMT opened at $184.21 on Wednesday. The firm has a market cap of $86.08 billion, a P/E ratio of 77.73, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm’s 50-day simple moving average is $190.14 and its 200 day simple moving average is $210.25.

American Tower Announces Dividend

The company also recently declared 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. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.52%. American Tower’s payout ratio is currently 273.42%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were 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 owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.