Kingsview Wealth Management LLC Has $31.35 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Kingsview Wealth Management LLC grew its holdings in shares of American Tower Co. (NYSE:AMT) by 19.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,909 shares of the real estate investment trust’s stock after buying an additional 27,251 shares during the quarter. Kingsview Wealth Management LLC’s holdings in American Tower were worth $31,346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vest Financial LLC boosted its position in shares of American Tower by 29.1% during the fourth quarter. Vest Financial LLC now owns 18,282 shares of the real estate investment trust’s stock valued at $3,353,000 after buying an additional 4,116 shares during the last quarter. Cidel Asset Management Inc. boosted its holdings in American Tower by 6.4% during the 4th quarter. Cidel Asset Management Inc. now owns 1,469 shares of the real estate investment trust’s stock worth $269,000 after acquiring an additional 88 shares during the last quarter. Joel Isaacson & Co. LLC grew its stake in shares of American Tower by 17.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 6,031 shares of the real estate investment trust’s stock worth $1,106,000 after acquiring an additional 900 shares in the last quarter. Platform Technology Partners lifted its position in shares of American Tower by 10.7% during the fourth quarter. Platform Technology Partners now owns 2,429 shares of the real estate investment trust’s stock valued at $446,000 after purchasing an additional 235 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in American Tower during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of several recent analyst reports. JMP Securities began coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. The Goldman Sachs Group cut their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.23.

Insider Buying and Selling at American Tower

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

American Tower Price Performance

NYSE AMT opened at $188.91 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The business’s fifty day moving average is $188.84 and its 200 day moving average is $209.77. The company has a market capitalization of $88.28 billion, a PE ratio of 79.71, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower Announces Dividend

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

About American Tower

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.