Mutual Advisors LLC Takes Position in American Tower Corp (AMT)

Mutual Advisors LLC acquired a new stake in American Tower Corp (NYSE:AMT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,924 shares of the real estate investment trust’s stock, valued at approximately $560,000.

Several other hedge funds have also recently made changes to their positions in AMT. Janus Henderson Group PLC grew its holdings in American Tower by 5.4% during the third quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock worth $1,075,458,000 after acquiring an additional 400,117 shares during the period. Edgewood Management LLC grew its holdings in American Tower by 1.6% during the third quarter. Edgewood Management LLC now owns 6,326,717 shares of the real estate investment trust’s stock worth $864,736,000 after acquiring an additional 99,052 shares during the period. American Century Companies Inc. grew its holdings in American Tower by 1.5% during the fourth quarter. American Century Companies Inc. now owns 3,248,232 shares of the real estate investment trust’s stock worth $463,425,000 after acquiring an additional 46,708 shares during the period. Principal Financial Group Inc. grew its holdings in American Tower by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,164,598 shares of the real estate investment trust’s stock worth $432,537,000 after acquiring an additional 166,910 shares during the period. Finally, Commonwealth Bank of Australia grew its holdings in American Tower by 26.1% during the third quarter. Commonwealth Bank of Australia now owns 2,790,646 shares of the real estate investment trust’s stock worth $380,074,000 after acquiring an additional 577,069 shares during the period. 92.19% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on AMT shares. KeyCorp set a $156.00 target price on American Tower and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Macquarie raised their target price on American Tower from $162.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, November 1st. Jefferies Group raised their target price on American Tower from $144.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research raised American Tower from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a report on Friday, November 3rd. Finally, Argus raised their target price on American Tower to $170.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company 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 that occurred on 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 filing with the SEC, which is accessible through this link. Also, Chairman James D. Taiclet, Jr. sold 34,667 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $142.52, for a total value of $4,940,740.84. Following the completion of the transaction, the chairman now owns 305,374 shares in the company, valued at approximately $43,521,902.48. The disclosure for this sale can be found here. Insiders have sold 41,251 shares of company stock worth $5,885,334 in the last quarter. 0.86% of the stock is currently owned by company insiders.

American Tower Corp (AMT) opened at $138.98 on Friday. The stock has a market capitalization of $58,941.97, a P/E ratio of 52.84, a price-to-earnings-growth ratio of 1.30 and a beta of 0.77. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower Corp has a 1 year low of $111.14 and a 1 year high of $155.28.

American Tower declared that its board has authorized a stock repurchase plan on Thursday, December 7th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

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

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