Outfitter Financial LLC Boosts Stock Position in American Tower Co. (NYSE:AMT)

Outfitter Financial LLC boosted its position in shares of American Tower Co. (NYSE:AMT) by 11.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,630 shares of the real estate investment trust’s stock after acquiring an additional 365 shares during the quarter. Outfitter Financial LLC’s holdings in American Tower were worth $666,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its holdings in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of American Tower during the third quarter worth approximately $31,000. Roxbury Financial LLC acquired a new stake in American Tower in the fourth quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new position in American Tower in the third quarter valued at $34,000. Finally, Activest Wealth Management grew its position in American Tower by 431.0% during the 3rd 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AMT shares. Barclays lowered their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Mizuho lowered their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Scotiabank reduced 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 research note on Thursday, January 23rd. Finally, BMO Capital Markets lowered their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.79.

American Tower Stock Performance

NYSE AMT opened at $192.51 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $89.96 billion, a price-to-earnings ratio of 81.23, 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. The business has a fifty day moving average of $185.78 and a 200-day moving average of $207.88.

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 paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.37%. American Tower’s dividend payout ratio is currently 273.42%.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

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.