First Business Financial Services Inc. grew its holdings in shares of American Tower Corp (NYSE:AMT) by 11.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,598 shares of the real estate investment trust’s stock after buying an additional 584 shares during the period. First Business Financial Services Inc.’s holdings in American Tower were worth $799,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in shares of American Tower by 5.4% during the 3rd quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock valued at $1,075,458,000 after buying an additional 400,117 shares in the last quarter. Edgewood Management LLC boosted its holdings in shares of American Tower by 1.6% during the 3rd quarter. Edgewood Management LLC now owns 6,326,717 shares of the real estate investment trust’s stock valued at $864,736,000 after buying an additional 99,052 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of American Tower by 1.5% during the 4th quarter. American Century Companies Inc. now owns 3,248,232 shares of the real estate investment trust’s stock valued at $463,425,000 after buying an additional 46,708 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of American Tower by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,164,598 shares of the real estate investment trust’s stock valued at $432,537,000 after buying an additional 166,910 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its holdings in shares of American Tower by 26.1% during the 3rd quarter. Commonwealth Bank of Australia now owns 2,790,646 shares of the real estate investment trust’s stock valued at $380,074,000 after buying an additional 577,069 shares in the last quarter. Hedge funds and other institutional investors own 91.75% 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 value of $715,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David E. Sharbutt sold 1,584 shares of American Tower stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total value of $228,792.96. Following the completion of the transaction, the director now directly owns 4,861 shares of the company’s stock, valued at approximately $702,122.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,251 shares of company stock valued at $11,026,134. 0.86% of the stock is owned by insiders.

American Tower Corp (NYSE AMT) opened at $136.05 on Friday. 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 $57,282.30, a PE ratio of 51.73, a PEG ratio of 1.26 and a beta of 0.77. American Tower Corp has a 52-week low of $103.47 and a 52-week high of $155.28.

American Tower declared that its Board of Directors has authorized a share buyback program on Thursday, December 7th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Wednesday, December 27th. This is a positive change from American Tower’s previous quarterly dividend of $0.66. American Tower’s payout ratio is currently 106.46%.

AMT has been the topic of a number of research reports. Macquarie boosted their target price on shares of American Tower from $162.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, November 1st. KeyCorp set a $156.00 target price on shares of American Tower and gave the company an “overweight” rating in a report on Wednesday, November 1st. Argus boosted their target price on shares of American Tower to $170.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Cowen restated a “buy” rating on shares of American Tower in a report on Tuesday, October 24th. Finally, Morgan Stanley restated an “overweight” rating and set a $172.00 target price on shares of American Tower in a report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $158.60.

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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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