Bartlett & Co. LLC boosted its stake in shares of American Tower Corp (NYSE:AMT) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,670 shares of the real estate investment trust’s stock after buying an additional 9,275 shares during the period. Bartlett & Co. LLC’s holdings in American Tower were worth $15,789,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Howe & Rusling Inc. boosted its stake in American Tower by 1,608.0% during the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 804 shares during the last quarter. Legacy Advisors LLC acquired a new position in American Tower during the third quarter worth $132,000. Fieldpoint Private Securities LLC boosted its stake in American Tower by 69.6% during the third quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 435 shares during the last quarter. Americafirst Capital Management LLC acquired a new position in American Tower during the third quarter worth $173,000. Finally, Laurel Wealth Advisors Inc. acquired a new position in American Tower during the third quarter worth $202,000. 91.60% of the stock is currently owned by institutional investors.
American Tower Corp (NYSE AMT) traded down $1.45 during trading hours on Friday, reaching $135.19. The company’s stock had a trading volume of 3,416,400 shares, compared to its average volume of 2,445,492. American Tower Corp has a 12 month low of $102.73 and a 12 month high of $155.28. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $58,410.00, a P/E ratio of 51.40, a P/E/G ratio of 1.42 and a beta of 0.73.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Thursday, December 28th were given a $0.70 dividend. The ex-dividend date was Wednesday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 2.07%. This is an increase from American Tower’s previous quarterly dividend of $0.66. American Tower’s payout ratio is currently 106.46%.
American Tower announced that its board has initiated a stock buyback plan on Thursday, December 7th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
A number of research firms have weighed in on AMT. Jefferies Group boosted their price objective on American Tower from $144.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Argus boosted their price objective on American Tower to $170.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. KeyCorp reissued an “overweight” rating and set a $177.00 price objective (up previously from $156.00) on shares of American Tower in a research note on Monday, November 27th. Cowen reissued a “buy” rating on shares of American Tower in a research note on Tuesday, October 24th. Finally, Macquarie boosted their price objective on American Tower from $162.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. American Tower currently has a consensus rating of “Buy” and a consensus price target of $158.60.
In related news, Director Samme L. Thompson sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total value of $715,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $151.20, for a total value of $5,140,800.00. The disclosure for this sale can be found here. Insiders sold 75,251 shares of company stock worth $11,026,134 in the last 90 days. Company insiders own 0.86% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “American Tower Corp (AMT) Shares Bought by Bartlett & Co. LLC” was first posted by Ticker Report and is the property of of Ticker Report. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.tickerreport.com/banking-finance/3146112/american-tower-corp-amt-shares-bought-by-bartlett-co-llc.html.
About American Tower
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.