Amica Mutual Insurance Co. boosted its position in American Tower Corp (NYSE:AMT) by 62.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,869 shares of the real estate investment trust’s stock after buying an additional 12,574 shares during the quarter. Amica Mutual Insurance Co.’s holdings in American Tower were worth $4,689,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Mutual Advisors LLC acquired a new stake in American Tower in the 4th quarter valued at approximately $560,000. Atlanta Capital Management Co. L L C raised its position in American Tower by 2.8% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 173,050 shares of the real estate investment trust’s stock valued at $24,689,000 after buying an additional 4,688 shares during the last quarter. Brown Advisory Securities LLC raised its position in American Tower by 5.1% in the 4th quarter. Brown Advisory Securities LLC now owns 30,439 shares of the real estate investment trust’s stock valued at $4,351,000 after buying an additional 1,489 shares during the last quarter. Alexandria Capital LLC raised its position in American Tower by 4,346.3% in the 4th quarter. Alexandria Capital LLC now owns 36,282 shares of the real estate investment trust’s stock valued at $5,176,000 after buying an additional 35,466 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in American Tower by 2.7% in the 4th quarter. Baird Financial Group Inc. now owns 192,223 shares of the real estate investment trust’s stock valued at $27,425,000 after buying an additional 5,037 shares during the last quarter. 92.19% of the stock is currently owned by institutional investors and hedge funds.
American Tower Corp (NYSE AMT) opened at $139.24 on Wednesday. The firm has a market capitalization of $60,050.00, a P/E ratio of 52.94, a price-to-earnings-growth ratio of 1.33 and a beta of 0.77. American Tower Corp has a 1 year low of $108.02 and a 1 year high of $155.28. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42.
American Tower declared that its Board of Directors has approved a stock buyback program on Thursday, December 7th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other American Tower news, Director Samme L. Thompson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total transaction of $715,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David E. Sharbutt sold 1,584 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total value of $228,792.96. Following the transaction, the director now directly owns 4,861 shares in the company, valued at approximately $702,122.84. The disclosure for this sale can be found here. Insiders have sold a total of 41,251 shares of company stock worth $5,885,334 in the last ninety days. Insiders own 0.86% of the company’s stock.
A number of brokerages recently issued reports on AMT. Jefferies Group lifted their target price on American Tower from $144.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Argus lifted their target price on American Tower to $170.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. KeyCorp reissued an “overweight” rating and issued a $177.00 target price (up previously from $156.00) on shares of American Tower in a research report on Monday, November 27th. Cowen reissued a “buy” rating on shares of American Tower in a research report on Tuesday, October 24th. Finally, Macquarie boosted their price target on American Tower from $162.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $158.60.
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American Tower Profile
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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