Golden State Wealth Management LLC Buys Shares of 300 American Tower Co. (NYSE:AMT)

Golden State Wealth Management LLC purchased a new position in shares of American Tower Co. (NYSE:AMT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 300 shares of the real estate investment trust’s stock, valued at approximately $55,000.

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

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Scotiabank reduced 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 research report on Thursday, January 23rd. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price for the company. Four investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Stock Up 0.5 %

AMT stock opened at $189.85 on Tuesday. The firm has a 50 day simple moving average of $188.44 and a 200-day simple moving average of $209.63. The company has a market capitalization of $88.71 billion, a P/E ratio of 80.10, a PEG ratio of 1.27 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.41%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

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.