6,007 Shares in American Tower Co. (NYSE:AMT) Bought by TigerOak Management L.L.C.

TigerOak Management L.L.C. purchased a new position in American Tower Co. (NYSE:AMT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,007 shares of the real estate investment trust’s stock, valued at approximately $1,102,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Balentine LLC bought a new stake in shares of American Tower in the third quarter worth $586,000. Nordea Investment Management AB increased its stake in shares of American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of American Tower in the third quarter worth $1,156,000. Brookstone Capital Management boosted its holdings in American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares during the period. Finally, CCLA Investment Management boosted its holdings in American Tower by 5.5% in the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after purchasing an additional 22,523 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $189.41 on Friday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm’s 50-day simple moving average is $186.70 and its 200 day simple moving average is $208.89. 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 stock has a market cap of $88.51 billion, a P/E ratio of 79.92, a P/E/G ratio of 1.27 and a beta of 0.84.

American Tower Dividend Announcement

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

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were 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. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on AMT shares. BMO Capital Markets decreased their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Mizuho decreased 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. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.79.

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.