JB Capital LLC grew its holdings in American Tower Co. (NYSE:AMT – Free Report) by 4.2% during the fourth quarter, Holdings Channel reports. The firm owned 18,003 shares of the real estate investment trust’s stock after acquiring an additional 726 shares during the quarter. JB Capital LLC’s holdings in American Tower were worth $3,302,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its holdings in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of American Tower during the 3rd quarter valued at $30,000. Hara Capital LLC acquired a new stake in American Tower in the third quarter worth $31,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the third quarter valued at about $34,000. Finally, Activest Wealth Management boosted its position in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.
American Tower Price Performance
American Tower stock opened at $184.91 on Monday. The stock has a market cap of $86.41 billion, a P/E ratio of 78.02, a P/E/G ratio of 1.24 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company’s 50 day moving average price is $190.58 and its two-hundred day moving average price is $210.44. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.
American Tower Announces Dividend
Insider Activity
In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently commented on the company. BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Mizuho decreased their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. JMP Securities began coverage on American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Scotiabank decreased their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group dropped their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $226.23.
Check Out Our Latest Stock Analysis on AMT
American Tower Company 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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