Thrivent Financial For Lutherans raised its position in American Tower Corp (NYSE:AMT) by 53.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,675 shares of the real estate investment trust’s stock after acquiring an additional 56,458 shares during the quarter. Thrivent Financial For Lutherans’ holdings in American Tower were worth $23,067,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Fieldpoint Private Securities LLC grew its position in shares of 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 in the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of American Tower during the third quarter worth approximately $173,000. Pinebridge Investments L.P. acquired a new stake in shares of American Tower during the fourth quarter worth approximately $182,000. SNS Financial Group LLC acquired a new stake in shares of American Tower during the fourth quarter worth approximately $201,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of American Tower during the fourth quarter worth approximately $204,000. 91.78% of the stock is owned by institutional investors.
American Tower Corp (NYSE AMT) opened at $143.58 on Friday. American Tower Corp has a one year low of $113.11 and a one year high of $155.28. The stock has a market capitalization of $61,580.00, a price-to-earnings ratio of 54.59, a P/E/G ratio of 1.60 and a beta of 0.80. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.25 and a current ratio of 1.25.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Wednesday, April 11th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.09%. This is a boost from American Tower’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Tuesday, April 10th. American Tower’s dividend payout ratio (DPR) is presently 106.46%.
American Tower announced that its board has initiated a share repurchase plan on Thursday, December 7th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
A number of analysts have recently weighed in on AMT shares. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 price target for the company in a research report on Tuesday, January 2nd. Oppenheimer raised their price target on shares of American Tower from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 20th. Morgan Stanley reissued an “overweight” rating and set a $172.00 price target on shares of American Tower in a research report on Wednesday, December 13th. ValuEngine downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, KeyCorp reissued an “overweight” rating and set a $177.00 price target (up previously from $156.00) on shares of American Tower in a research report on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $157.87.
In other American Tower news, Director David E. Sharbutt sold 1,584 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total value of $228,792.96. Following the sale, the director now directly owns 4,861 shares in the company, valued at $702,122.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Samme L. Thompson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total value of $715,800.00. The disclosure for this sale can be found here. Insiders sold 41,251 shares of company stock worth $5,885,334 over the last quarter. 0.86% of the stock is currently owned by company insiders.
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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.
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