Allworth Financial LP Raises Stock Holdings in American Tower Co. (NYSE:AMT)

Allworth Financial LP raised its position in shares of American Tower Co. (NYSE:AMT) by 380.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,642 shares of the real estate investment trust’s stock after buying an additional 27,428 shares during the quarter. Allworth Financial LP’s holdings in American Tower were worth $6,419,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AMT. State Street Corp boosted its stake in American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after acquiring an additional 635,726 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of American Tower by 1.9% during the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after purchasing an additional 204,426 shares during the last quarter. FMR LLC boosted its position in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of American Tower by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after buying an additional 243,061 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after buying an additional 38,436 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

American Tower Trading Down 0.3 %

Shares of NYSE:AMT opened at $189.41 on Monday. 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 stock has a market capitalization of $88.51 billion, a price-to-earnings ratio of 79.92, a PEG ratio of 1.27 and a beta of 0.84. The stock’s 50-day simple moving average is $186.70 and its two-hundred day simple moving average is $208.79. American Tower Co. has a 52-week low of $170.46 and a 52-week 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 given a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.42%. American Tower’s payout ratio is presently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. 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. BMO Capital Markets dropped 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 note on Wednesday, October 30th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.