Transamerica Financial Advisors Inc. Has $417,000 Stake in American Tower Corp (AMT)

Transamerica Financial Advisors Inc. lowered its position in American Tower Corp (NYSE:AMT) by 14.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,631 shares of the real estate investment trust’s stock after selling 449 shares during the period. Transamerica Financial Advisors Inc.’s holdings in American Tower were worth $417,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake in American Tower by 10.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 150,440 shares of the real estate investment trust’s stock valued at $21,689,000 after buying an additional 13,702 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of American Tower by 56.3% during the 2nd quarter. Schroder Investment Management Group now owns 11,201 shares of the real estate investment trust’s stock worth $1,616,000 after purchasing an additional 4,033 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of American Tower by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,414,223 shares of the real estate investment trust’s stock worth $636,400,000 after purchasing an additional 312,126 shares during the last quarter. Atria Investments LLC increased its stake in shares of American Tower by 13.3% during the 3rd quarter. Atria Investments LLC now owns 4,958 shares of the real estate investment trust’s stock worth $720,000 after purchasing an additional 582 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of American Tower by 14.8% during the 3rd quarter. Bank of Montreal Can now owns 796,654 shares of the real estate investment trust’s stock worth $115,752,000 after purchasing an additional 102,491 shares during the last quarter. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Gustavo Lara sold 3,050 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $172.71, for a total transaction of $526,765.50. Following the transaction, the director now owns 9,940 shares in the company, valued at $1,716,737.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Samme L. Thompson sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $157.11, for a total transaction of $314,220.00. Following the transaction, the director now owns 20,625 shares in the company, valued at approximately $3,240,393.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,654 shares of company stock worth $35,077,266. 0.87% of the stock is owned by corporate insiders.

NYSE:AMT traded up $0.42 during trading hours on Monday, hitting $172.85. The stock had a trading volume of 10,845 shares, compared to its average volume of 1,730,352. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.72 and a quick ratio of 0.72. American Tower Corp has a one year low of $130.37 and a one year high of $173.95. The company has a market cap of $76.25 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.59 and a beta of 0.65.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 14th. Stockholders of record on Thursday, December 27th were issued a dividend of $0.84 per share. This is an increase from American Tower’s previous quarterly dividend of $0.79. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, December 26th. American Tower’s payout ratio is currently 52.66%.

Several equities research analysts have recently issued reports on the stock. Moffett Nathanson lowered shares of American Tower from a “buy” rating to a “neutral” rating and set a $164.00 price target for the company. in a research note on Monday, December 3rd. Barclays raised their price target on shares of American Tower from $156.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 31st. KeyCorp raised their price target on shares of American Tower from $165.00 to $170.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 31st. Citigroup lowered shares of American Tower from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $161.00 to $176.00 in a research note on Wednesday, October 31st. Finally, Zacks Investment Research upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. American Tower has an average rating of “Buy” and an average price target of $166.33.

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American Tower 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 170,000 communications sites.

Further Reading: Understanding Options Trading

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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