American Tower Co. (NYSE:AMT) Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its stake in shares of American Tower Co. (NYSE:AMT) by 232.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,362 shares of the real estate investment trust’s stock after purchasing an additional 25,419 shares during the period. American Tower accounts for approximately 0.4% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 22nd biggest position. Y Intercept Hong Kong Ltd’s holdings in American Tower were worth $6,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Balentine LLC acquired a new position in shares of American Tower during the third quarter valued at approximately $586,000. Nordea Investment Management AB increased its position in shares of American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after purchasing an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in American Tower in the 3rd quarter valued at $1,156,000. TigerOak Management L.L.C. acquired a new position in American Tower in the 4th quarter valued at $1,102,000. Finally, Brookstone Capital Management lifted its holdings in American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after purchasing an additional 1,995 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Down 0.5 %

NYSE AMT opened at $191.32 on Monday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $89.40 billion, a P/E ratio of 80.73, a PEG ratio of 1.29 and a beta of 0.84. The firm’s 50-day moving average is $185.67 and its two-hundred day moving average is $207.36. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower Dividend Announcement

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 $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.39%. American Tower’s dividend payout ratio is currently 273.42%.

Analysts Set New Price Targets

AMT has been the subject of a number of research reports. Scotiabank reduced their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Barclays decreased their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group cut their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $225.79.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction 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 directly owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate 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.