Cavalier Investments LLC purchased a new position in American Tower Corp (NYSE:AMT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,200 shares of the real estate investment trust’s stock, valued at approximately $1,425,000.
Several other institutional investors have also bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in American Tower in the 3rd quarter valued at about $25,000. Country Trust Bank lifted its position in American Tower by 289.3% in the 4th quarter. Country Trust Bank now owns 109 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 81 shares during the last quarter. CXI Advisors bought a new stake in American Tower in the 4th quarter valued at about $27,000. Marquette Asset Management LLC bought a new stake in American Tower in the 3rd quarter valued at about $33,000. Finally, IndexIQ Advisors LLC bought a new stake in American Tower in the 4th quarter valued at about $35,000. Institutional investors own 91.68% of the company’s stock.
Several analysts recently weighed in on AMT shares. Morgan Stanley reiterated a “hold” rating and issued a $218.00 price objective (up from $216.00) on shares of American Tower in a research report on Friday, November 22nd. Cowen raised their target price on shares of American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research note on Friday, November 1st. Goldman Sachs Group raised shares of American Tower from a “neutral” rating to a “buy” rating and raised their target price for the company from $204.00 to $270.00 in a research note on Monday, January 13th. Finally, KeyCorp raised their target price on shares of American Tower from $242.00 to $254.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $224.36.
Shares of AMT opened at $256.90 on Friday. The firm’s 50 day moving average is $233.78 and its 200-day moving average is $222.98. The stock has a market capitalization of $107.94 billion, a P/E ratio of 71.56, a P/E/G ratio of 1.56 and a beta of 0.40. The company has a debt-to-equity ratio of 4.40, a current ratio of 0.53 and a quick ratio of 0.53. American Tower Corp has a 12-month low of $171.71 and a 12-month high of $258.62.
In other news, Director Samme L. Thompson sold 3,000 shares of American Tower stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $227.56, for a total value of $682,680.00. Following the transaction, the director now owns 22,598 shares of the company’s stock, valued at approximately $5,142,400.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Olivier Puech sold 313 shares of American Tower stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $228.56, for a total transaction of $71,539.28. Following the completion of the transaction, the executive vice president now directly owns 18,723 shares in the company, valued at approximately $4,279,328.88. The disclosure for this sale can be found here. Insiders sold a total of 4,574 shares of company stock worth $1,043,846 in the last ninety days. Corporate insiders own 0.75% of the company’s stock.
American Tower Company 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 approximately 171,000 communications sites.
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