American Tower Co. (NYSE:AMT) Stock Position Increased by Verity Asset Management Inc.

Verity Asset Management Inc. boosted its position in shares of American Tower Co. (NYSE:AMT) by 8.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,357 shares of the real estate investment trust’s stock after buying an additional 106 shares during the quarter. Verity Asset Management Inc.’s holdings in American Tower were worth $249,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AMT. CX Institutional raised its holdings in shares of American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares in the last quarter. Palumbo Wealth Management LLC increased its holdings in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 57 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in shares of American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares during the last quarter. Precedent Wealth Partners LLC boosted its stake in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in shares of American Tower by 5.3% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 59 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Scotiabank reduced their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. JMP Securities assumed coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price for the company. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Trading Down 0.6 %

Shares of NYSE:AMT opened at $184.21 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market capitalization of $86.08 billion, a PE ratio of 77.73, a P/E/G ratio of 1.24 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a fifty day moving average price of $190.14 and a 200 day moving average price of $210.25.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.