Tobam Has $370,000 Holdings in American Tower Co. (NYSE:AMT)

Tobam lifted its position in American Tower Co. (NYSE:AMT) by 120.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,016 shares of the real estate investment trust’s stock after buying an additional 1,100 shares during the quarter. Tobam’s holdings in American Tower were worth $370,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. grew its position in American Tower by 28.0% in the fourth quarter. Global X Japan Co. Ltd. now owns 842 shares of the real estate investment trust’s stock worth $154,000 after acquiring an additional 184 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of American Tower by 4.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,142 shares of the real estate investment trust’s stock valued at $10,847,000 after purchasing an additional 2,475 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in American Tower by 2.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,283,519 shares of the real estate investment trust’s stock worth $235,410,000 after buying an additional 36,013 shares during the last quarter. Consolidated Portfolio Review Corp raised its holdings in American Tower by 4.1% during the fourth quarter. Consolidated Portfolio Review Corp now owns 4,800 shares of the real estate investment trust’s stock valued at $880,000 after buying an additional 188 shares in the last quarter. Finally, Silver Oak Securities Incorporated lifted its position in shares of American Tower by 16.1% in the fourth quarter. Silver Oak Securities Incorporated now owns 1,811 shares of the real estate investment trust’s stock worth $329,000 after buying an additional 251 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AMT. BMO Capital Markets cut their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Scotiabank decreased their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company lowered their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target for the company. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $226.23.

American Tower Price Performance

Shares of NYSE:AMT opened at $188.91 on Friday. The business’s 50 day moving average is $188.84 and its 200-day moving average is $209.77. 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 has a market capitalization of $88.28 billion, a PE ratio of 79.71, a PEG ratio of 1.27 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 firm 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. This represents a $6.48 annualized dividend and a yield of 3.43%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 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.