Channing Global Advisors LLC lifted its stake in shares of American Tower Co. (NYSE:AMT – Free Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,324 shares of the real estate investment trust’s stock after purchasing an additional 139 shares during the period. American Tower makes up about 1.7% of Channing Global Advisors LLC’s holdings, making the stock its 18th biggest position. Channing Global Advisors LLC’s holdings in American Tower were worth $2,229,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. McClarren Financial Advisors Inc. purchased a new position in shares of American Tower during the third quarter valued at $27,000. Emerald Advisers LLC purchased a new position in shares of American Tower during the third quarter valued at $29,000. Thompson Investment Management Inc. purchased a new position in shares of American Tower during the fourth quarter valued at $29,000. Brown Shipley& Co Ltd purchased a new position in shares of American Tower during the third quarter valued at $35,000. Finally, Valley National Advisers Inc. grew its holdings in shares of American Tower by 200.0% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 118 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.
American Tower Stock Performance
American Tower stock traded down $0.21 during trading hours on Friday, hitting $172.69. The stock had a trading volume of 496,931 shares, compared to its average volume of 2,407,378. The company has a 50-day moving average of $190.60 and a two-hundred day moving average of $193.90. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a market cap of $80.53 billion, a PE ratio of 54.39, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10.
American Tower Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s payout ratio is presently 203.77%.
Insider Buying and Selling
In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Mizuho assumed coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. BMO Capital Markets lowered their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, Barclays upped their price target on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.36.
Check Out Our Latest Analysis on American Tower
American Tower Profile
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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