American Tower Corporation $AMT Stock Holdings Increased by Skylands Capital LLC

Skylands Capital LLC grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 14.3% in the third quarter, HoldingsChannel reports. The fund owned 41,720 shares of the real estate investment trust’s stock after buying an additional 5,225 shares during the period. American Tower makes up about 1.1% of Skylands Capital LLC’s portfolio, making the stock its 28th largest holding. Skylands Capital LLC’s holdings in American Tower were worth $8,024,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMT. Mirae Asset Global Investments Co. Ltd. increased its position in shares of American Tower by 8.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock valued at $18,615,000 after purchasing an additional 7,872 shares during the period. Eastern Bank boosted its stake in American Tower by 69.6% during the third quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock valued at $26,750,000 after buying an additional 57,078 shares in the last quarter. Machina Capital S.A.S. acquired a new position in American Tower during the third quarter worth about $2,871,000. Commerzbank Aktiengesellschaft FI raised its position in American Tower by 92.4% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock worth $11,808,000 after acquiring an additional 29,486 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in American Tower by 52.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock valued at $71,094,000 after acquiring an additional 110,671 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

AMT opened at $178.45 on Wednesday. The firm has a market capitalization of $83.54 billion, a P/E ratio of 28.51, a PEG ratio of 0.73 and a beta of 0.93. The stock has a fifty day moving average of $176.71 and a 200-day moving average of $187.42. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 12-month low of $166.88 and a 12-month high of $234.33.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were given a dividend of $1.70 per share. The ex-dividend date was Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Insiders Place Their Bets

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMT. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price objective on the stock in a research note on Monday, January 5th. TD Cowen reduced their target price on shares of American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a report on Monday, December 29th. UBS Group cut their price objective on American Tower from $260.00 to $254.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Finally, Barclays restated an “equal weight” rating and issued a $200.00 target price (down from $203.00) on shares of American Tower in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $218.79.

About American Tower

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.