IFM Investors Pty Ltd boosted its holdings in American Tower Corp (NYSE:AMT) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,978 shares of the real estate investment trust’s stock after acquiring an additional 353 shares during the quarter. IFM Investors Pty Ltd’s holdings in American Tower were worth $1,637,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Howe & Rusling Inc. increased its position in shares of American Tower by 1,608.0% during the 3rd quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 804 shares during the period. Peddock Capital Advisors LLC acquired a new position in shares of American Tower during the 2nd quarter valued at $119,000. Legacy Advisors LLC acquired a new position in shares of American Tower during the 3rd quarter valued at $132,000. Glassman Wealth Services increased its position in shares of American Tower by 28.9% during the 2nd quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 231 shares during the period. Finally, Fieldpoint Private Securities LLC boosted its stake in shares of American Tower by 69.6% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 435 shares in the last quarter. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Several equities research analysts have recently weighed in on the company. KeyCorp reissued an “overweight” rating and set a $177.00 price objective (up from $156.00) on shares of American Tower in a research note on Monday, November 27th. Zacks Investment Research lowered American Tower from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. ValuEngine lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Jefferies Group reissued a “buy” rating and set a $144.00 price objective on shares of American Tower in a research note on Tuesday, September 12th. Finally, SunTrust Banks reissued a “buy” rating on shares of American Tower in a research note on Wednesday, September 20th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $158.50.

Shares of American Tower Corp (NYSE:AMT) opened at $143.51 on Wednesday. The company has a market capitalization of $61,776.71, a price-to-earnings ratio of 22.30, a PEG ratio of 1.69 and a beta of 0.73. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower Corp has a 12-month low of $102.51 and a 12-month high of $155.28.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Wednesday, December 27th. This is a boost from American Tower’s previous quarterly dividend of $0.66. American Tower’s dividend payout ratio (DPR) is 100.38%.

American Tower announced that its Board of Directors has approved a stock buyback program on Thursday, December 7th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, EVP Edmund Disanto sold 10,000 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $137.95, for a total value of $1,379,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $139.40, for a total value of $4,739,600.00. Following the completion of the sale, the chairman now directly owns 304,707 shares of the company’s stock, valued at approximately $42,476,155.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,000 shares of company stock valued at $12,619,900. 0.86% of the stock is currently owned by insiders.

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About American Tower

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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

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