American Tower Corporation $AMT Holdings Raised by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership increased its stake in American Tower Corporation (NYSE:AMT) by 9.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,378 shares of the real estate investment trust’s stock after purchasing an additional 11,524 shares during the quarter. American Tower makes up 3.7% of Foresight Group Ltd Liability Partnership’s investment portfolio, making the stock its 11th largest holding. Foresight Group Ltd Liability Partnership’s holdings in American Tower were worth $24,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. Abound Wealth Management grew its position in American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 81 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the second quarter worth $31,000. Root Financial Partners LLC acquired a new stake in shares of American Tower in the third quarter worth $32,000. Physician Wealth Advisors Inc. grew its holdings in shares of American Tower by 85.9% during the third quarter. Physician Wealth Advisors Inc. now owns 171 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 79 shares in the last quarter. Finally, Westside Investment Management Inc. raised its position in American Tower by 103.6% during the third quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 86 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

AMT stock opened at $173.63 on Tuesday. The firm has a 50 day moving average of $176.66 and a two-hundred day moving average of $187.79. American Tower Corporation has a 12 month low of $166.88 and a 12 month high of $234.33. The company has a market capitalization of $81.28 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 0.72 and a beta of 0.93. 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 firm also recently announced 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 of this dividend was Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

Insiders Place Their Bets

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 stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the transaction, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup restated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. HSBC reduced their price target on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. The Goldman Sachs Group decreased their price target on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 16th. Barclays reiterated an “equal weight” rating and issued a $200.00 price objective (down previously from $203.00) on shares of American Tower in a research note on Monday, December 1st. Finally, Scotiabank cut their target price on shares of American Tower from $248.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $218.79.

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.