Oppenheimer Asset Management Inc. reduced its position in shares of American Tower Corp (NYSE:AMT) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,763 shares of the real estate investment trust’s stock after selling 1,210 shares during the period. Oppenheimer Asset Management Inc.’s holdings in American Tower were worth $4,204,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of AMT. Howe & Rusling Inc. boosted its holdings in shares of American Tower by 1,608.0% during the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 804 shares during the period. Legacy Advisors LLC purchased a new stake in shares of American Tower during the third quarter worth about $132,000. Fieldpoint Private Securities LLC lifted its holdings in American Tower by 69.6% in the third quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 435 shares during the period. Americafirst Capital Management LLC purchased a new stake in American Tower in the third quarter worth about $173,000. Finally, Laurel Wealth Advisors Inc. purchased a new stake in American Tower in the third quarter worth about $202,000. Institutional investors own 91.75% of the company’s stock.
In other American Tower news, Chairman James D. Taiclet, Jr. sold 34,667 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $142.52, for a total transaction of $4,940,740.84. Following the completion of the transaction, the chairman now owns 305,374 shares of the company’s stock, valued at $43,521,902.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, November 13th. The shares were sold at an average price of $151.20, for a total transaction of $5,140,800.00. The disclosure for this sale can be found here. Insiders have sold 75,251 shares of company stock valued at $11,026,134 in the last ninety days. Insiders own 0.86% of the company’s stock.
American Tower Corp (NYSE AMT) opened at $136.05 on Friday. American Tower Corp has a one year low of $103.47 and a one year high of $155.28. The firm has a market cap of $57,282.30, a P/E ratio of 51.73, a price-to-earnings-growth ratio of 1.26 and a beta of 0.77. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61.
American Tower declared that its Board of Directors has authorized a share buyback plan 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 buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Thursday, December 28th were paid a dividend of $0.70 per share. This is an increase from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date was Wednesday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.06%. American Tower’s dividend payout ratio (DPR) is currently 106.46%.
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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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