Bristol Gate Capital Partners Inc. bought a new stake in American Tower Corp (NYSE:AMT) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 221,609 shares of the real estate investment trust’s stock, valued at approximately $31,617,000. American Tower makes up about 4.4% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 21st biggest position.

A number of other large investors have also bought and sold shares of AMT. Arrowstreet Capital Limited Partnership increased its holdings in American Tower by 3.1% in the second quarter. Arrowstreet Capital Limited Partnership now owns 36,900 shares of the real estate investment trust’s stock valued at $4,883,000 after buying an additional 1,100 shares during the last quarter. Sterling Capital Management LLC increased its holdings in American Tower by 33.4% in the second quarter. Sterling Capital Management LLC now owns 104,068 shares of the real estate investment trust’s stock valued at $13,770,000 after buying an additional 26,082 shares during the last quarter. National Asset Management Inc. purchased a new position in American Tower in the second quarter valued at $396,000. Colony Group LLC increased its holdings in American Tower by 837.1% in the second quarter. Colony Group LLC now owns 20,561 shares of the real estate investment trust’s stock valued at $2,721,000 after buying an additional 18,367 shares during the last quarter. Finally, Millie Capital Management LLC increased its holdings in American Tower by 0.7% in the second quarter. Millie Capital Management LLC now owns 19,932 shares of the real estate investment trust’s stock valued at $2,637,000 after buying an additional 138 shares during the last quarter. 91.75% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $151.20, for a total transaction of $5,140,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David E. Sharbutt sold 1,584 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total transaction of $228,792.96. Following the sale, the director now owns 4,861 shares of the company’s stock, valued at approximately $702,122.84. The disclosure for this sale can be found here. Insiders sold 75,251 shares of company stock valued at $11,026,134 in the last 90 days. 0.86% of the stock is currently owned by insiders.

Several equities analysts recently commented on the company. Argus increased their target price on American Tower to $170.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research lowered American Tower from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. ValuEngine upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Morgan Stanley upped their price objective on shares of American Tower from $155.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, November 14th. Finally, KeyCorp restated an “overweight” rating and issued a $177.00 price objective (up previously from $156.00) on shares of American Tower in a research note on Monday, November 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $158.60.

American Tower Corp (NYSE:AMT) opened at $136.05 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower Corp has a 12 month low of $104.73 and a 12 month high of $155.28. The stock has a market cap of $58,350.00, a price-to-earnings ratio of 51.73, a price-to-earnings-growth ratio of 1.26 and a beta of 0.77.

American Tower announced that its Board of Directors has authorized a stock repurchase program 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. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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