American Tower Co. (NYSE:AMT) Shares Purchased by Brighton Jones LLC

Brighton Jones LLC increased its holdings in American Tower Co. (NYSE:AMT) by 113.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,966 shares of the real estate investment trust’s stock after buying an additional 2,104 shares during the quarter. Brighton Jones LLC’s holdings in American Tower were worth $727,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMT. MBB Public Markets I LLC raised its holdings in shares of American Tower by 1,984.8% during the second quarter. MBB Public Markets I LLC now owns 32,898 shares of the real estate investment trust’s stock worth $6,395,000 after purchasing an additional 31,320 shares during the last quarter. Mackenzie Financial Corp grew its position in American Tower by 23.6% during the 2nd quarter. Mackenzie Financial Corp now owns 655,113 shares of the real estate investment trust’s stock worth $127,341,000 after purchasing an additional 125,104 shares during the period. Scientech Research LLC raised its stake in shares of American Tower by 50.1% during the 2nd quarter. Scientech Research LLC now owns 3,832 shares of the real estate investment trust’s stock valued at $745,000 after buying an additional 1,279 shares during the last quarter. Alethea Capital Management LLC acquired a new position in shares of American Tower in the 2nd quarter valued at about $431,000. Finally, Ascent Group LLC boosted its stake in shares of American Tower by 9.0% in the second quarter. Ascent Group LLC now owns 10,127 shares of the real estate investment trust’s stock worth $1,968,000 after buying an additional 840 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Mizuho decreased their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Scotiabank decreased their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday. Barclays dropped their price target on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. BMO Capital Markets decreased their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.42.

American Tower Trading Down 0.7 %

AMT stock opened at $185.17 on Friday. The business’s 50-day moving average is $192.08 and its 200 day moving average is $211.04. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The stock has a market cap of $86.53 billion, a price-to-earnings ratio of 78.13, a PEG ratio of 1.24 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.58 earnings per share. On average, sell-side analysts anticipate that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.50%. American Tower’s dividend payout ratio is presently 273.42%.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.