Leonteq Securities AG raised its holdings in shares of American Tower Corporation (NYSE:AMT – Free Report) by 49.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,447 shares of the real estate investment trust’s stock after acquiring an additional 3,123 shares during the quarter. Leonteq Securities AG’s holdings in American Tower were worth $1,630,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in American Tower by 73.3% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 128,234 shares of the real estate investment trust’s stock valued at $22,131,000 after purchasing an additional 54,250 shares during the last quarter. Elevation Point Wealth Partners LLC raised its holdings in American Tower by 56.3% during the first quarter. Elevation Point Wealth Partners LLC now owns 10,763 shares of the real estate investment trust’s stock worth $1,858,000 after purchasing an additional 3,878 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its position in shares of American Tower by 0.8% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 81,826 shares of the real estate investment trust’s stock worth $14,122,000 after buying an additional 621 shares during the last quarter. Strs Ohio boosted its holdings in shares of American Tower by 15.0% in the 1st quarter. Strs Ohio now owns 172,521 shares of the real estate investment trust’s stock valued at $29,774,000 after buying an additional 22,522 shares in the last quarter. Finally, Harrison Street Private Wealth LLC acquired a new position in shares of American Tower in the 1st quarter valued at $3,091,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.
American Tower Trading Down 0.1%
Shares of American Tower stock opened at $165.84 on Friday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $77.27 billion, a P/E ratio of 26.79, a PEG ratio of 0.69 and a beta of 0.91. American Tower Corporation has a 1 year low of $162.27 and a 1 year high of $234.33. The company’s fifty day moving average is $179.93 and its two-hundred day moving average is $179.30.
American Tower Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Friday, June 12th will be paid a dividend of $1.79 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $7.16 annualized dividend and a yield of 4.3%. American Tower’s dividend payout ratio is currently 115.67%.
Insiders Place Their Bets
In other American Tower news, EVP Ruth T. Dowling sold 416 shares of American Tower stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $177.54, for a total value of $73,856.64. Following the transaction, the executive vice president directly owned 29,461 shares in the company, valued at approximately $5,230,505.94. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently commented on AMT shares. Scotiabank increased their target price on shares of American Tower from $214.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings downgraded shares of American Tower from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. Barclays dropped their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, April 16th. Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a research report on Wednesday, April 29th. Finally, Truist Financial upped their target price on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $216.95.
Get Our Latest Research Report on American Tower
American Tower 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.
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