Consolidated Portfolio Review Corp Purchases 188 Shares of American Tower Co. (NYSE:AMT)

Consolidated Portfolio Review Corp raised its position in American Tower Co. (NYSE:AMT) by 4.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,800 shares of the real estate investment trust’s stock after buying an additional 188 shares during the period. Consolidated Portfolio Review Corp’s holdings in American Tower were worth $880,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in American Tower in the 3rd quarter valued at approximately $30,000. Hara Capital LLC bought a new position in shares of American Tower during the third quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the third quarter worth $34,000. Finally, Activest Wealth Management grew its stake in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of NYSE AMT opened at $188.91 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s 50-day moving average price is $188.84 and its 200-day moving average price is $209.77. The firm has a market capitalization of $88.28 billion, a P/E ratio of 79.71, a P/E/G ratio of 1.24 and a beta of 0.84. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.43%. American Tower’s payout ratio is currently 273.42%.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AMT shares. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Barclays lowered their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Scotiabank reduced their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Finally, JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

American Tower 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.