Tyche Wealth Partners LLC Purchases 162 Shares of American Tower Co. (NYSE:AMT)

Tyche Wealth Partners LLC raised its position in shares of American Tower Co. (NYSE:AMT) by 12.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,431 shares of the real estate investment trust’s stock after acquiring an additional 162 shares during the period. Tyche Wealth Partners LLC’s holdings in American Tower were worth $263,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AMT. Fortitude Family Office LLC increased its position in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the third quarter worth about $30,000. Hara Capital LLC bought a new position in shares of American Tower in the third quarter worth about $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower in the third quarter worth about $34,000. Finally, Activest Wealth Management grew its holdings in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMT shares. The Goldman Sachs Group cut their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Scotiabank cut their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. 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 cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $226.23.

American Tower Stock Performance

AMT stock opened at $189.69 on Friday. The firm has a market cap of $88.64 billion, a price-to-earnings ratio of 80.04, a PEG ratio of 1.24 and a beta of 0.84. The firm has a 50-day simple moving average of $189.23 and a two-hundred day simple moving average of $209.91. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s payout ratio is 273.42%.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

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