Raymond James Financial Services Advisors Inc. cut its holdings in shares of American Tower Corp (NYSE:AMT) by 5.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 126,500 shares of the real estate investment trust’s stock after selling 7,266 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in American Tower were worth $18,049,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. Howe & Rusling Inc. grew its holdings in shares of American Tower by 1,608.0% during the 3rd 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 acquired a new position in American Tower during the 3rd quarter worth about $132,000. Fieldpoint Private Securities LLC lifted its stake in American Tower by 69.6% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 435 shares in the last quarter. Americafirst Capital Management LLC acquired a new position in American Tower during the 3rd quarter worth about $173,000. Finally, Pinebridge Investments L.P. acquired a new position in American Tower during the 4th quarter worth about $182,000. Institutional investors and hedge funds own 92.19% of the company’s stock.
Shares of American Tower Corp (AMT) opened at $140.02 on Monday. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $60,048.42, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.33 and a beta of 0.77. American Tower Corp has a 12-month low of $107.66 and a 12-month high of $155.28.
Several research firms recently issued reports on AMT. Jefferies Group increased their target price on American Tower from $144.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Argus increased their target price on American Tower to $170.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. KeyCorp reissued an “overweight” rating and set a $177.00 target price (up previously from $156.00) on shares of American Tower in a research note on Monday, November 27th. Cowen reissued a “buy” rating on shares of American Tower in a research note on Tuesday, October 24th. Finally, Macquarie increased their target price on American Tower from $162.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the stock. American Tower currently has an average rating of “Buy” and an average price target of $158.60.
In other American Tower news, Director Samme L. Thompson sold 5,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total value of $715,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David E. Sharbutt sold 1,584 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $144.44, for a total value of $228,792.96. Following the completion of the sale, the director now directly owns 4,861 shares in the company, valued at approximately $702,122.84. The disclosure for this sale can be found here. Insiders sold a total of 41,251 shares of company stock worth $5,885,334 in the last ninety days. 0.86% of the stock is owned by corporate insiders.
American Tower 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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