Stevens Capital Management LP Reduces Position in American Tower Corporation $AMT

Stevens Capital Management LP decreased its holdings in American Tower Corporation (NYSE:AMT) by 31.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,484 shares of the real estate investment trust’s stock after selling 10,982 shares during the quarter. Stevens Capital Management LP’s holdings in American Tower were worth $4,516,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMT. Brighton Jones LLC grew its position in shares of American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after buying an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in American Tower by 34.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after acquiring an additional 368 shares during the last quarter. United Bank grew its holdings in American Tower by 12.7% during the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 733 shares in the last quarter. Avidian Wealth Enterprises LLC grew its holdings in American Tower by 19.1% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 1,097 shares of the real estate investment trust’s stock worth $242,000 after acquiring an additional 176 shares in the last quarter. Finally, Brookstone Capital Management increased its position in shares of American Tower by 3.3% in the 2nd quarter. Brookstone Capital Management now owns 7,608 shares of the real estate investment trust’s stock worth $1,681,000 after purchasing an additional 245 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of AMT opened at $187.28 on Friday. The firm has a fifty day moving average of $178.02 and a 200-day moving average of $186.37. The company has a market cap of $87.67 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 0.77 and a beta of 0.93. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were paid a $1.70 dividend. The ex-dividend date was Monday, December 29th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Insider Buying and Selling at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was 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 in the company, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AMT. BMO Capital Markets downgraded American Tower from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $210.00 to $185.00 in a research note on Friday, January 9th. Scotiabank reduced their target price on American Tower from $248.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, January 14th. Argus set a $210.00 target price on American Tower in a research report on Thursday, October 30th. New Street Research raised American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target on the stock in a research report on Monday, January 5th. Finally, Raymond James Financial decreased their price objective on shares of American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $218.79.

American Tower 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.