Corps Capital Advisors LLC Purchases Shares of 1,715 American Tower Co. (NYSE:AMT)

Corps Capital Advisors LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,715 shares of the real estate investment trust’s stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Northwest Investment Counselors LLC bought a new stake in American Tower during the 3rd quarter valued at $30,000. Oakworth Capital Inc. increased its stake in American Tower by 85.7% during the 3rd quarter. Oakworth Capital Inc. now owns 390 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 180 shares in the last quarter. Signaturefd LLC increased its stake in American Tower by 7.9% during the 3rd quarter. Signaturefd LLC now owns 8,004 shares of the real estate investment trust’s stock valued at $1,861,000 after purchasing an additional 585 shares in the last quarter. BLB&B Advisors LLC increased its stake in American Tower by 5.2% during the 3rd quarter. BLB&B Advisors LLC now owns 1,813 shares of the real estate investment trust’s stock valued at $422,000 after purchasing an additional 89 shares in the last quarter. Finally, Weaver Capital Management LLC increased its stake in American Tower by 2.7% during the 3rd quarter. Weaver Capital Management LLC now owns 8,901 shares of the real estate investment trust’s stock valued at $2,070,000 after purchasing an additional 233 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower 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 transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This 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 is available through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Barclays reduced their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Citigroup reduced their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.79.

American Tower Price Performance

Shares of NYSE:AMT opened at $188.55 on Thursday. The company has a market capitalization of $88.11 billion, a P/E ratio of 79.56, 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 company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company’s 50-day moving average is $185.89 and its 200 day moving average is $207.99.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) 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.