American Tower Corporation $AMT Shares Bought by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership increased its holdings in American Tower Corporation (NYSE:AMT) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 127,378 shares of the real estate investment trust’s stock after buying an additional 11,524 shares during the period. American Tower comprises approximately 3.7% of Foresight Group Ltd Liability Partnership’s holdings, making the stock its 11th biggest position. Foresight Group Ltd Liability Partnership’s holdings in American Tower were worth $24,497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Midwest Trust Co boosted its stake in American Tower by 0.5% in the third quarter. Midwest Trust Co now owns 113,082 shares of the real estate investment trust’s stock valued at $21,748,000 after acquiring an additional 574 shares during the period. Rockland Trust Co. bought a new stake in shares of American Tower in the 3rd quarter worth approximately $2,298,000. AlTi Global Inc. boosted its position in American Tower by 11.2% during the 3rd quarter. AlTi Global Inc. now owns 6,048 shares of the real estate investment trust’s stock valued at $1,174,000 after purchasing an additional 609 shares during the period. Roman Butler Fullerton & Co. grew its stake in American Tower by 9.3% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 1,313 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 112 shares during the last quarter. Finally, SPC Financial Inc. grew its stake in American Tower by 1.5% during the 3rd quarter. SPC Financial Inc. now owns 4,093 shares of the real estate investment trust’s stock worth $787,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several analyst reports. Morgan Stanley reduced their price target on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, December 4th. Raymond James Financial reduced their target price on shares of American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a research note on Friday, January 23rd. Jefferies Financial Group decreased their target price on shares of American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. 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 report on Monday, January 5th. Finally, JPMorgan Chase & Co. reduced their price objective on American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. One equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.79.

American Tower Trading Up 1.4%

Shares of AMT stock opened at $173.63 on Tuesday. The stock has a 50-day simple moving average of $176.66 and a 200 day simple moving average of $187.79. The stock has a market capitalization of $81.28 billion, a P/E ratio of 27.74, a P/E/G ratio of 0.72 and a beta of 0.93. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, December 29th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Monday, December 29th. American Tower’s payout ratio is presently 108.63%.

Insider Buying and Selling

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.