Partners Group Holding AG trimmed its stake in American Tower Corp (NYSE:AMT) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 142,349 shares of the real estate investment trust’s stock after selling 5,527 shares during the period. American Tower comprises 3.6% of Partners Group Holding AG’s investment portfolio, making the stock its 13th biggest holding. Partners Group Holding AG’s holdings in American Tower were worth $32,715,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of AMT. Arrow Financial Corp lifted its holdings in American Tower by 111.7% in the 4th quarter. Arrow Financial Corp now owns 3,222 shares of the real estate investment trust’s stock valued at $740,000 after purchasing an additional 1,700 shares in the last quarter. Compass Ion Advisors LLC acquired a new position in American Tower in the fourth quarter valued at $202,000. Raymond James Trust N.A. grew its position in American Tower by 2.1% during the fourth quarter. Raymond James Trust N.A. now owns 7,413 shares of the real estate investment trust’s stock valued at $1,704,000 after acquiring an additional 156 shares during the period. Cibc Bank USA increased its stake in American Tower by 7.8% during the fourth quarter. Cibc Bank USA now owns 3,389 shares of the real estate investment trust’s stock worth $779,000 after acquiring an additional 246 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in American Tower by 3.1% during the third quarter. Pictet Asset Management Ltd. now owns 222,581 shares of the real estate investment trust’s stock worth $49,219,000 after acquiring an additional 6,700 shares during the last quarter. Hedge funds and other institutional investors own 92.24% of the company’s stock.
Shares of NYSE AMT traded up $8.99 during trading on Wednesday, reaching $199.26. 3,201,548 shares of the stock were exchanged, compared to its average volume of 2,321,523. The business’s 50-day moving average price is $235.54 and its 200 day moving average price is $225.48. American Tower Corp has a twelve month low of $174.32 and a twelve month high of $258.62. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 5.03. The company has a market capitalization of $79.32 billion, a price-to-earnings ratio of 47.11, a price-to-earnings-growth ratio of 1.21 and a beta of 0.41.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Tuesday, April 14th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Monday, April 13th. This is an increase from American Tower’s previous quarterly dividend of $1.01. American Tower’s payout ratio is currently 52.26%.
In related news, EVP Steven O. Vondran sold 1,261 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $229.68, for a total transaction of $289,626.48. Following the completion of the transaction, the executive vice president now owns 28,705 shares in the company, valued at approximately $6,592,964.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David E. Sharbutt sold 2,200 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $243.60, for a total value of $535,920.00. Following the transaction, the director now owns 4,097 shares of the company’s stock, valued at $998,029.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,144 shares of company stock valued at $2,332,308. 0.75% of the stock is currently owned by corporate insiders.
Several equities analysts have recently weighed in on the company. New Street Research raised American Tower from a “neutral” rating to a “buy” rating in a research note on Thursday, March 12th. Credit Suisse Group reiterated a “hold” rating and set a $265.00 price objective on shares of American Tower in a research note on Wednesday, February 26th. Goldman Sachs Group raised shares of American Tower from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $204.00 to $270.00 in a research report on Monday, January 13th. Edward Jones raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Citigroup upgraded shares of American Tower from a “neutral” rating to a “buy” rating and set a $280.00 target price on the stock in a report on Thursday, March 5th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $239.50.
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 approximately 171,000 communications sites.
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