Segment Wealth Management LLC increased its stake in American Tower Corp (NYSE:AMT) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,678 shares of the real estate investment trust’s stock after purchasing an additional 1,483 shares during the period. Segment Wealth Management LLC’s holdings in American Tower were worth $3,093,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Howe & Rusling Inc. increased its position in shares of American Tower by 1,608.0% in 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 bought a new position in shares of American Tower in the third quarter worth $132,000. Fieldpoint Private Securities LLC increased its position in shares of 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 purchasing an additional 435 shares during the period. Americafirst Capital Management LLC bought a new position in shares of American Tower in the third quarter worth $173,000. Finally, Laurel Wealth Advisors Inc. bought a new position in shares of American Tower in the third quarter worth $202,000. Institutional investors own 91.69% of the company’s stock.

In other news, Director Samme L. Thompson sold 5,000 shares of American Tower stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total transaction of $715,800.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David E. Sharbutt sold 1,584 shares of American Tower 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 sale, the director now directly owns 4,861 shares in the company, valued at $702,122.84. The disclosure for this sale can be found here. Insiders have sold 75,251 shares of company stock worth $11,026,134 over the last three months. Insiders own 0.86% of the company’s stock.

A number of research analysts recently commented on AMT shares. Argus raised their price target on American Tower to $170.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Friday, November 3rd. Jefferies Group lifted their target price on American Tower from $144.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Cowen reiterated a “buy” rating on shares of American Tower in a research report on Tuesday, October 24th. Finally, ValuEngine upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $158.60.

American Tower Corp (NYSE AMT) opened at $139.24 on Tuesday. American Tower Corp has a 12-month low of $102.73 and a 12-month high of $155.28. 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 $59,170.00, a PE ratio of 52.94, a price-to-earnings-growth ratio of 1.30 and a beta of 0.73.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.69 EPS for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.92). American Tower had a net margin of 18.63% and a return on equity of 16.98%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. equities research analysts forecast that American Tower Corp will post 6.53 EPS for the current year.

American Tower announced that its Board of Directors has approved a share buyback plan on Thursday, December 7th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Wednesday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 106.46%.

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About American Tower

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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