15,417 Shares in American Tower Corporation $AMT Acquired by Caprock Group LLC

Caprock Group LLC bought a new stake in shares of American Tower Corporation (NYSE:AMT) in the 3rd quarter, HoldingsChannel reports. The firm bought 15,417 shares of the real estate investment trust’s stock, valued at approximately $3,143,000.

Several other hedge funds have also recently added to or reduced their stakes in AMT. Legacy Investment Solutions LLC bought a new position in shares of American Tower in the second quarter valued at $31,000. Abound Wealth Management raised its position in shares of American Tower by 137.3% during the third 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 during the period. VSM Wealth Advisory LLC lifted its holdings in shares of American Tower by 136.4% during the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 90 shares during the last quarter. Root Financial Partners LLC acquired a new position in shares of American Tower in the 3rd quarter valued at $32,000. Finally, Westside Investment Management Inc. increased its stake in American Tower by 103.6% in the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $188.24 on Friday. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33. The stock’s 50-day moving average is $176.99 and its two-hundred day moving average is $187.38. 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 firm has a market cap of $88.13 billion, a P/E ratio of 30.07, a PEG ratio of 0.75 and a beta of 0.93.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were paid a $1.70 dividend. The ex-dividend date was Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. American Tower’s payout ratio is 108.63%.

Analyst Ratings Changes

A number of analysts have commented on AMT shares. Argus set a $210.00 price objective on shares of American Tower in a research note on Thursday, October 30th. JPMorgan Chase & Co. cut their price target on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Royal Bank Of Canada cut their target price on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research note on Monday, January 12th. Finally, HSBC lowered their price target on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.79.

Insider Transactions at American Tower

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’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 completion of the sale, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

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.