ING Groep NV Has $11.64 Million Position in American Tower Corporation $AMT

ING Groep NV lifted its holdings in American Tower Corporation (NYSE:AMT) by 5,413.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,534 shares of the real estate investment trust’s stock after buying an additional 59,436 shares during the period. ING Groep NV’s holdings in American Tower were worth $11,642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC lifted its position in shares of American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC increased its stake in American Tower by 34.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 368 shares during the period. Concurrent Investment Advisors LLC increased its stake in American Tower by 8.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,699 shares of the real estate investment trust’s stock valued at $817,000 after buying an additional 273 shares during the period. CWM LLC lifted its position in American Tower by 20.1% in the 2nd quarter. CWM LLC now owns 19,916 shares of the real estate investment trust’s stock worth $4,402,000 after buying an additional 3,336 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of American Tower by 6.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,863 shares of the real estate investment trust’s stock valued at $2,180,000 after buying an additional 619 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMT. Morgan Stanley dropped their price target on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, December 4th. Royal Bank Of Canada lowered their target price on American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a research report on Monday, December 29th. Argus set a $210.00 price target on American Tower in a research note on Thursday, October 30th. Finally, HSBC lowered their price target on American Tower from $235.00 to $205.00 in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company 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 American Tower stock in a transaction that occurred on 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 owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

American Tower Stock Performance

AMT opened at $180.36 on Thursday. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $84.44 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.93. The stock has a 50-day moving average of $176.80 and a 200-day moving average of $187.37. American Tower Corporation has a 52-week low of $166.88 and a 52-week high of $234.33.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, December 29th. American Tower’s dividend payout ratio (DPR) is 108.63%.

About American Tower

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.