Stratos Wealth Partners LTD. Has $1.63 Million Holdings in American Tower Corporation $AMT

Stratos Wealth Partners LTD. decreased its position in shares of American Tower Corporation (NYSE:AMT) by 29.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,448 shares of the real estate investment trust’s stock after selling 3,600 shares during the period. Stratos Wealth Partners LTD.’s holdings in American Tower were worth $1,625,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMT. Analyst IMS Investment Management Services Ltd. lifted its position in shares of American Tower by 3.6% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock worth $303,000 after purchasing an additional 48 shares during the last quarter. Marion Wealth Management lifted its holdings in shares of American Tower by 0.8% during the second quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock worth $1,309,000 after buying an additional 48 shares during the last quarter. YANKCOM Partnership boosted its position in shares of American Tower by 2.9% in the second quarter. YANKCOM Partnership now owns 1,729 shares of the real estate investment trust’s stock valued at $382,000 after acquiring an additional 49 shares during the period. GPS Wealth Strategies Group LLC grew its stake in shares of American Tower by 2.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 2,566 shares of the real estate investment trust’s stock worth $567,000 after acquiring an additional 51 shares during the last quarter. Finally, Manchester Capital Management LLC raised its stake in American Tower by 3.1% during the 2nd quarter. Manchester Capital Management LLC now owns 1,808 shares of the real estate investment trust’s stock valued at $400,000 after purchasing an additional 54 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

American Tower Trading Up 2.0%

Shares of AMT opened at $192.03 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The stock has a market cap of $89.90 billion, a PE ratio of 30.68, a PEG ratio of 0.80 and a beta of 0.93. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33. The stock has a 50 day simple moving average of $177.25 and a 200-day simple moving average of $186.97.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Analyst Ratings Changes

AMT has been the topic of several research analyst reports. TD Cowen dropped their price objective on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Jefferies Financial Group decreased their target price on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. BMO Capital Markets cut American Tower from an “outperform” rating to a “market perform” rating and cut their price target for the company from $210.00 to $185.00 in a report on Friday, January 9th. The Goldman Sachs Group decreased their price objective on American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Finally, Raymond James Financial cut their target price on American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $218.79.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.