American Tower Corporation $AMT Shares Purchased by Aberdeen Group plc

Aberdeen Group plc grew its stake in American Tower Corporation (NYSE:AMT) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 726,651 shares of the real estate investment trust’s stock after acquiring an additional 27,463 shares during the period. Aberdeen Group plc owned about 0.16% of American Tower worth $139,393,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the 2nd quarter valued at approximately $31,000. Abound Wealth Management increased its position in 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 purchasing an additional 81 shares in the last quarter. VSM Wealth Advisory LLC boosted its position in shares of 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 worth $34,000 after buying an additional 90 shares during the period. Root Financial Partners LLC purchased a new stake in shares of American Tower during the third quarter worth about $32,000. Finally, Westside Investment Management Inc. grew its stake in 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 purchasing an additional 86 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMT. The Goldman Sachs Group cut their price objective on shares of American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Royal Bank Of Canada decreased their target price on American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a research report on Monday, January 12th. Morgan Stanley cut their price target on American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, December 4th. Jefferies Financial Group decreased their price objective on shares of American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Finally, Barclays reiterated an “equal weight” rating and set a $200.00 price target (down previously from $203.00) on shares of American Tower in a research report on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $218.79.

American Tower Stock Performance

Shares of AMT stock opened at $192.03 on Friday. American Tower Corporation has a 52 week low of $166.88 and a 52 week high of $234.33. The company has a market capitalization of $89.90 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 0.80 and a beta of 0.93. The company has a 50-day simple moving average of $177.25 and a 200 day simple moving average of $186.97. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, December 29th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, December 29th. American Tower’s dividend payout ratio (DPR) is 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 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 value of $159,631,314.75. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

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.