GSA Capital Partners LLP Takes $1.70 Million Position in American Tower Corp (AMT)

GSA Capital Partners LLP acquired a new position in shares of American Tower Corp (NYSE:AMT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,452 shares of the real estate investment trust’s stock, valued at approximately $1,702,000.

Several other institutional investors have also bought and sold shares of the company. Howe & Rusling Inc. lifted its stake in American Tower by 1,608.0% in the 3rd quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 804 shares during the last quarter. Peddock Capital Advisors LLC acquired a new stake in American Tower in the 2nd quarter valued at about $119,000. Legacy Advisors LLC acquired a new stake in American Tower in the 3rd quarter valued at about $132,000. Glassman Wealth Services lifted its stake in American Tower by 28.9% in the 2nd quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 231 shares during the last quarter. Finally, Fieldpoint Private Securities LLC lifted its stake in American Tower by 69.6% in the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 435 shares during the last quarter. Institutional investors own 91.89% of the company’s stock.

In other news, Director David E. Sharbutt sold 1,584 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $144.44, for a total transaction of $228,792.96. Following the transaction, the director now directly owns 4,861 shares of the company’s stock, valued at $702,122.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $139.40, for a total transaction of $4,739,600.00. Following the transaction, the chairman now directly owns 304,707 shares in the company, valued at $42,476,155.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,251 shares of company stock worth $17,789,434. Insiders own 0.86% of the company’s stock.

Several equities research analysts recently issued reports on AMT shares. Jefferies Group reiterated a “buy” rating and issued a $144.00 target price on shares of American Tower in a research note on Tuesday, September 12th. Macquarie raised their target price on shares of American Tower from $162.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, November 1st. BidaskClub raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Zacks Investment Research cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, KeyCorp set a $156.00 price target on shares of American Tower and gave the company an “overweight” rating in a report on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $158.50.

American Tower Corp (NYSE AMT) opened at $142.76 on Monday. The firm has a market cap of $61,223.48, a PE ratio of 22.10, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower Corp has a fifty-two week low of $102.51 and a fifty-two week high of $155.28.

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 outstanding shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Thursday, December 28th will be issued a $0.70 dividend. This is a boost from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, December 27th. American Tower’s dividend payout ratio is currently 100.38%.

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American Tower Company 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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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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