Border to Coast Pensions Partnership Ltd Boosts Stake in American Tower Corporation $AMT

Border to Coast Pensions Partnership Ltd increased its position in American Tower Corporation (NYSE:AMT) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 392,264 shares of the real estate investment trust’s stock after acquiring an additional 7,500 shares during the period. American Tower comprises about 1.3% of Border to Coast Pensions Partnership Ltd’s investment portfolio, making the stock its 18th biggest holding. Border to Coast Pensions Partnership Ltd owned 0.08% of American Tower worth $75,440,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new stake in American Tower in the 2nd quarter worth $31,000. Abound Wealth Management grew its position in shares of American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 81 shares in the last quarter. VSM Wealth Advisory LLC grew its stake in American Tower by 136.4% in the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 90 shares during the last quarter. Root Financial Partners LLC acquired a new position in American Tower during the 3rd quarter valued at about $32,000. Finally, Westside Investment Management Inc. raised its holdings in shares of American Tower by 103.6% in the third quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 86 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

American Tower Stock Up 1.9%

AMT stock opened at $176.48 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The company has a market cap of $82.62 billion, a P/E ratio of 28.19, a P/E/G ratio of 0.72 and a beta of 0.93. American Tower Corporation has a 52 week low of $166.88 and a 52 week high of $234.33. The company’s 50-day moving average price is $177.11 and its 200 day moving average price is $189.29.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, December 29th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, December 29th. American Tower’s payout ratio is currently 108.63%.

Analyst Ratings Changes

Several equities research analysts have weighed in on AMT shares. Royal Bank Of Canada cut their price target on American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research report on Monday, January 12th. Mizuho cut their price target on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Argus set a $210.00 price objective on American Tower in a research note on Thursday, October 30th. The Goldman Sachs Group decreased their price objective on American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, January 16th. Finally, HSBC cut their target price on American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.