266 Shares in American Tower Co. (NYSE:AMT) Acquired by Asset Planning Inc

Asset Planning Inc purchased a new position in American Tower Co. (NYSE:AMT) during the 4th quarter, HoldingsChannel reports. The firm purchased 266 shares of the real estate investment trust’s stock, valued at approximately $49,000.

Other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its position 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 worth $25,000 after buying an additional 78 shares during the period. Northwest Investment Counselors LLC bought a new position in American Tower in the 3rd quarter worth approximately $30,000. Hara Capital LLC bought a new position in American Tower in the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC bought a new position in American Tower in the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management increased its position in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

Shares of NYSE:AMT opened at $189.41 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $88.51 billion, a price-to-earnings ratio of 79.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The business’s fifty day moving average price is $187.05 and its two-hundred day moving average price is $209.07. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Insiders Place Their Bets

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 transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays dropped their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Citigroup lowered their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday. BMO Capital Markets lowered their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Mizuho lowered their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered 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. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average target price of $225.79.

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.