American Tower Corporation $AMT Shares Bought by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd boosted its position in shares of American Tower Corporation (NYSE:AMT) by 1.9% in the third quarter, Holdings Channel.com reports. The firm owned 392,264 shares of the real estate investment trust’s stock after acquiring an additional 7,500 shares during the period. American Tower comprises approximately 1.3% of Border to Coast Pensions Partnership Ltd’s investment portfolio, making the stock its 18th largest position. Border to Coast Pensions Partnership Ltd’s holdings in American Tower were worth $75,440,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in American Tower by 0.3% in the second quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock worth $13,930,530,000 after acquiring an additional 218,881 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in American Tower by 24.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after buying an additional 2,474,328 shares during the period. Invesco Ltd. boosted its position in shares of American Tower by 11.9% in the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock worth $1,476,529,000 after buying an additional 708,808 shares during the period. Norges Bank acquired a new position in American Tower in the 2nd quarter valued at approximately $1,371,875,000. Finally, Charles Schwab Investment Management Inc. increased its position in American Tower by 3.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,563,565 shares of the real estate investment trust’s stock worth $1,229,659,000 after purchasing an additional 208,213 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s 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 sale, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMT. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. The Goldman Sachs Group reduced their price objective on American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Barclays reissued an “equal weight” rating and set a $200.00 price objective (down from $203.00) on shares of American Tower in a report on Monday, December 1st. HSBC cut their target price on shares of American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lowered their target price on American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $218.79.

American Tower Stock Performance

Shares of NYSE:AMT opened at $176.48 on Thursday. The firm has a market cap of $82.62 billion, a PE ratio of 28.19, a PEG ratio of 0.72 and a beta of 0.93. The company’s 50 day moving average price is $177.11 and its two-hundred day moving average price is $189.29. American Tower Corporation has a 12-month low of $166.88 and a 12-month high of $234.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24.

American Tower Announces Dividend

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

American Tower 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.