Sunburst Financial Group LLC Purchases 63 Shares of American Tower Co. (NYSE:AMT)

Sunburst Financial Group LLC grew its position in shares of American Tower Co. (NYSE:AMT) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,354 shares of the real estate investment trust’s stock after purchasing an additional 63 shares during the quarter. Sunburst Financial Group LLC’s holdings in American Tower were worth $248,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FMR LLC lifted its holdings 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 acquiring an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC raised its position in American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after purchasing an additional 1,160,890 shares during the period. Pathway Financial Advisers LLC lifted its stake in American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after purchasing an additional 993,061 shares during the last quarter. International Assets Investment Management LLC boosted its position in American Tower by 22,242.7% during the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after buying an additional 775,379 shares during the period. Finally, State Street Corp grew its stake in shares of 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 valued at $4,924,091,000 after buying an additional 635,726 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of AMT opened at $189.90 on Friday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a 50-day simple moving average of $187.44 and a two-hundred day simple moving average of $209.20. 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 firm has a market capitalization of $88.74 billion, a PE ratio of 80.13, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is presently 273.42%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMT. Wells Fargo & Company lowered their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group lowered their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $226.23.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the 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 owns 62,792 shares in the company, valued at approximately $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 can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

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.