Machina Capital S.A.S. Buys Shares of 14,927 American Tower Corporation $AMT

Machina Capital S.A.S. purchased a new position in American Tower Corporation (NYSE:AMT) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,927 shares of the real estate investment trust’s stock, valued at approximately $2,871,000.

A number of other hedge funds have also made changes to their positions in AMT. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of American Tower by 8.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock worth $18,615,000 after purchasing an additional 7,872 shares during the period. Eastern Bank boosted its stake in American Tower by 69.6% during the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock valued at $26,750,000 after purchasing an additional 57,078 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in American Tower by 92.4% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock valued at $11,808,000 after buying an additional 29,486 shares during the last quarter. Stack Financial Management Inc bought a new position in American Tower in the 2nd quarter worth approximately $13,020,000. Finally, Los Angeles Capital Management LLC increased its position in American Tower by 52.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock worth $71,094,000 after buying an additional 110,671 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.0%

Shares of American Tower stock opened at $173.71 on Wednesday. American Tower Corporation has a 52-week low of $166.88 and a 52-week high of $234.33. The firm has a market capitalization of $81.32 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 0.73 and a beta of 0.93. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. The company’s fifty day moving average price is $177.21 and its two-hundred day moving average price is $189.38.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, December 29th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Monday, December 29th. American Tower’s dividend payout ratio is 108.63%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AMT. Citigroup reissued a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Barclays reiterated an “equal weight” rating and set a $200.00 target price (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. JPMorgan Chase & Co. decreased their price target on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Royal Bank Of Canada dropped their price objective on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a report on Monday, January 12th. Finally, The Goldman Sachs Group reduced their target price on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.79.

Insider Buying and Selling

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This trade 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 is available at this link. 0.18% 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.