John G Ullman & Associates Inc. Purchases 3,736 Shares of American Tower Corporation $AMT

John G Ullman & Associates Inc. grew its position in shares of American Tower Corporation (NYSE:AMT) by 7.1% in the third quarter, HoldingsChannel reports. The fund owned 56,718 shares of the real estate investment trust’s stock after acquiring an additional 3,736 shares during the period. American Tower makes up 1.5% of John G Ullman & Associates Inc.’s portfolio, making the stock its 17th largest position. John G Ullman & Associates Inc.’s holdings in American Tower were worth $10,908,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AMT. Legacy Investment Solutions LLC bought a new position in American Tower in the second quarter valued at $31,000. Abound Wealth Management lifted its position in American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 81 shares in the last quarter. VSM Wealth Advisory LLC boosted its stake in shares of American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 90 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of American Tower during the 3rd quarter worth about $32,000. Finally, Westside Investment Management Inc. grew its holdings in shares of American Tower by 103.6% in the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 86 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

Shares of NYSE AMT opened at $171.79 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The company has a market capitalization of $80.42 billion, a P/E ratio of 27.44, a P/E/G ratio of 0.74 and a beta of 0.93. American Tower Corporation has a 12 month low of $166.88 and a 12 month high of $234.33. The stock has a 50 day moving average of $176.92 and a 200-day moving average of $189.17.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, December 29th. American Tower’s payout ratio is 108.63%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMT shares. Wells Fargo & Company dropped their target price on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. TD Cowen lowered their price target on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Morgan Stanley dropped their price objective on American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, December 4th. Argus set a $210.00 target price on shares of American Tower in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average price target of $218.79.

Insider Activity at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by corporate insiders.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.