Axa raised its stake in shares of American Tower Corp (NYSE:AMT) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 594,258 shares of the real estate investment trust’s stock after purchasing an additional 17,897 shares during the period. Axa owned 0.14% of American Tower worth $81,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Howe & Rusling Inc. raised its position in shares of American Tower by 1,608.0% in the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 804 shares during the last quarter. Peddock Capital Advisors LLC acquired a new stake in shares of American Tower in the second quarter valued at about $119,000. Legacy Advisors LLC acquired a new stake in shares of American Tower in the third quarter valued at about $132,000. Glassman Wealth Services raised its position in shares of American Tower by 28.9% in the second quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 231 shares during the last quarter. Finally, Fieldpoint Private Securities LLC raised its position in shares of American Tower by 69.6% in the third quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock valued at $145,000 after buying an additional 435 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors and hedge funds.

American Tower Corp (AMT) opened at $143.64 on Friday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market cap of $61,639.47, a PE ratio of 22.25, a price-to-earnings-growth ratio of 1.69 and a beta of 0.73. American Tower Corp has a 12 month low of $102.51 and a 12 month high of $155.28.

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

American Tower declared that its Board of Directors has authorized a stock buyback program on Thursday, December 7th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $172.00 target price on shares of American Tower in a research report on Wednesday. ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. KeyCorp restated an “overweight” rating and set a $177.00 price objective (up from $156.00) on shares of American Tower in a research report on Monday, November 27th. Zacks Investment Research cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Argus raised their price objective on shares of American Tower to $170.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $158.50.

In other American Tower news, EVP Edmund Disanto sold 10,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $136.00, for a total transaction of $1,360,000.00. Following the completion of the transaction, the executive vice president now owns 151,928 shares of the company’s stock, valued at $20,662,208. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $151.20, for a total transaction of $5,140,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,667 shares of company stock valued at $17,560,641. 0.86% of the stock is currently owned by insiders.

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American Tower Profile

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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