Trust Point Inc. Purchases 146 Shares of American Tower Co. (NYSE:AMT)

Trust Point Inc. grew its position in American Tower Co. (NYSE:AMT) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,590 shares of the real estate investment trust’s stock after purchasing an additional 146 shares during the quarter. Trust Point Inc.’s holdings in American Tower were worth $292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC increased its stake in American Tower by 269.0% in 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 purchased a new position in shares of American Tower in the third quarter valued at about $30,000. Hara Capital LLC bought a new position in shares of American Tower in the third quarter worth about $31,000. Legacy Investment Solutions LLC bought a new stake in American Tower during the 3rd quarter valued at approximately $34,000. Finally, Activest Wealth Management lifted its holdings in American Tower by 431.0% in 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. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays reduced their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $226.23.

American Tower Trading Up 1.2 %

AMT stock opened at $189.69 on Friday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The stock has a market capitalization of $88.64 billion, a price-to-earnings ratio of 80.04, a price-to-earnings-growth 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 firm’s fifty day simple moving average is $189.23 and its two-hundred day simple moving average is $209.91.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

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.