American Tower Corporation $AMT Shares Purchased by Cibc World Market Inc.

Cibc World Market Inc. increased its holdings in American Tower Corporation (NYSE:AMT) by 16.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,467 shares of the real estate investment trust’s stock after purchasing an additional 36,090 shares during the quarter. Cibc World Market Inc. owned 0.05% of American Tower worth $48,554,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AMT. Brighton Jones LLC grew its position in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of American Tower by 34.3% in the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 368 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of American Tower by 8.0% during the second quarter. Concurrent Investment Advisors LLC now owns 3,699 shares of the real estate investment trust’s stock valued at $817,000 after buying an additional 273 shares in the last quarter. CWM LLC raised its position in American Tower by 20.1% during the second quarter. CWM LLC now owns 19,916 shares of the real estate investment trust’s stock valued at $4,402,000 after buying an additional 3,336 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its stake in American Tower by 6.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,863 shares of the real estate investment trust’s stock worth $2,180,000 after acquiring an additional 619 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction dated 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 owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. The trade was 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 hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on AMT shares. Morgan Stanley decreased 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. Mizuho decreased their target price on shares of American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Barclays restated an “equal weight” rating and set a $200.00 price target (down from $203.00) on shares of American Tower in a report on Monday, December 1st. HSBC cut their price objective on American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lowered their target price on American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.79.

American Tower Stock Up 1.0%

Shares of American Tower stock opened at $180.36 on Thursday. American Tower Corporation has a 12-month low of $166.88 and a 12-month 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. The stock has a 50 day moving average price of $176.80 and a two-hundred day moving average price of $187.37. The stock has a market capitalization of $84.44 billion, a P/E ratio of 28.81, a PEG ratio of 0.75 and a beta of 0.93.

American Tower Announces Dividend

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

American Tower Company 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.