American Tower Corp (AMT) Shares Bought by Gamble Jones Investment Counsel

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Gamble Jones Investment Counsel boosted its stake in American Tower Corp (NYSE:AMT) by 12.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,342 shares of the real estate investment trust’s stock after acquiring an additional 3,512 shares during the quarter. Gamble Jones Investment Counsel’s holdings in American Tower were worth $5,116,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMT. Advisors Asset Management Inc. grew its stake in American Tower by 10.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 150,440 shares of the real estate investment trust’s stock worth $21,689,000 after buying an additional 13,702 shares during the last quarter. Schroder Investment Management Group grew its stake in American Tower by 56.3% during the 2nd quarter. Schroder Investment Management Group now owns 11,201 shares of the real estate investment trust’s stock worth $1,616,000 after buying an additional 4,033 shares during the last quarter. Bank of New York Mellon Corp grew its stake in American Tower by 7.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,414,223 shares of the real estate investment trust’s stock worth $636,400,000 after buying an additional 312,126 shares during the last quarter. Atria Investments LLC grew its stake in American Tower by 13.3% during the 3rd quarter. Atria Investments LLC now owns 4,958 shares of the real estate investment trust’s stock worth $720,000 after buying an additional 582 shares during the last quarter. Finally, DNB Asset Management AS grew its stake in American Tower by 1.3% during the 3rd quarter. DNB Asset Management AS now owns 55,195 shares of the real estate investment trust’s stock worth $8,020,000 after buying an additional 693 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

Several research analysts recently weighed in on AMT shares. Barclays boosted their target price on American Tower from $156.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 31st. Citigroup downgraded American Tower from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $161.00 to $176.00 in a research note on Wednesday, October 31st. Bank of America set a $172.00 target price on American Tower and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Wells Fargo & Co boosted their target price on American Tower from $173.00 to $176.00 and gave the stock an “outperform” rating in a research note on Friday, November 16th. Finally, KeyCorp boosted their price target on American Tower from $165.00 to $170.00 and gave the company an “overweight” rating in a research note on Wednesday, October 31st. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. American Tower presently has an average rating of “Buy” and a consensus target price of $166.33.

American Tower stock opened at $172.43 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11. The stock has a market cap of $75.77 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.59 and a beta of 0.65. American Tower Corp has a fifty-two week low of $130.37 and a fifty-two week high of $173.95.

The company also recently declared a quarterly dividend, which was paid on Monday, January 14th. Shareholders of record on Thursday, December 27th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.95%. The ex-dividend date was Wednesday, December 26th. This is an increase from American Tower’s previous quarterly dividend of $0.79. American Tower’s payout ratio is presently 52.66%.

In other news, CFO Thomas A. Bartlett sold 93,338 shares of the business’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $165.00, for a total value of $15,400,770.00. Following the completion of the transaction, the chief financial officer now owns 133,660 shares of the company’s stock, valued at approximately $22,053,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas A. Bartlett sold 20,000 shares of the business’s stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $165.00, for a total value of $3,300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 134,230 shares of the company’s stock, valued at approximately $22,147,950. The disclosure for this sale can be found here. In the last quarter, insiders have sold 212,654 shares of company stock worth $35,077,266. Company insiders own 0.87% of the company’s stock.

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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 170,000 communications sites.

Further Reading: Technical Analysis of Stocks and What It Means

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

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

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