American Tower Co. (NYSE:AMT) Stake Boosted by Skylands Capital LLC

Skylands Capital LLC raised its stake in American Tower Co. (NYSE:AMT) by 45.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 56,320 shares of the real estate investment trust’s stock after buying an additional 17,675 shares during the quarter. American Tower makes up about 1.4% of Skylands Capital LLC’s investment portfolio, making the stock its 18th largest holding. Skylands Capital LLC’s holdings in American Tower were worth $10,330,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its holdings in shares of American Tower by 15.3% during the third quarter. Assenagon Asset Management S.A. now owns 16,857 shares of the real estate investment trust’s stock valued at $3,920,000 after purchasing an additional 2,233 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in American Tower by 9.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,499 shares of the real estate investment trust’s stock worth $11,170,000 after acquiring an additional 4,040 shares during the period. Arkadios Wealth Advisors grew its holdings in American Tower by 4.0% during the third quarter. Arkadios Wealth Advisors now owns 1,737 shares of the real estate investment trust’s stock worth $404,000 after acquiring an additional 67 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in American Tower by 0.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 282,469 shares of the real estate investment trust’s stock worth $65,691,000 after acquiring an additional 2,470 shares during the period. Finally, Frank Rimerman Advisors LLC boosted its position in shares of American Tower by 12.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,098 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 465 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research reports. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Citigroup dropped their price target on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Wells Fargo & Company lowered their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. 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. Finally, JMP Securities initiated coverage on American Tower in a research note 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, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $225.79.

American Tower Stock Down 0.5 %

NYSE AMT opened at $191.32 on Monday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $89.40 billion, a PE ratio of 80.73, a PEG ratio of 1.29 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 business’s 50-day moving average is $185.67 and its 200 day moving average is $207.36.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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 dividend yield of 3.39%. American Tower’s payout ratio is 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.