Summit Trail Advisors LLC Has $1.19 Million Stock Position in American Tower Co. (NYSE:AMT)

Summit Trail Advisors LLC grew its stake in shares of American Tower Co. (NYSE:AMT) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,412 shares of the real estate investment trust’s stock after purchasing an additional 87 shares during the quarter. Summit Trail Advisors LLC’s holdings in American Tower were worth $1,186,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AMT. State Street Corp increased its holdings in shares of American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after acquiring an additional 635,726 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of American Tower by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock worth $2,599,074,000 after acquiring an additional 204,426 shares during the last quarter. FMR LLC increased its holdings in shares of American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of American Tower by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after acquiring an additional 243,061 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after acquiring an additional 38,436 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

American Tower Price Performance

Shares of AMT stock opened at $193.45 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market cap of $90.40 billion, a P/E ratio of 81.63, a P/E/G ratio of 1.27 and a beta of 0.84. The business has a fifty day simple moving average of $188.09 and a 200 day simple moving average of $209.49.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.35%. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Ratings Changes

A number of research firms recently weighed in on AMT. JMP Securities began coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

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.