Boston Family Office LLC Decreases Holdings in American Tower Corp (AMT)
Boston Family Office LLC reduced its stake in shares of American Tower Corp (NYSE:AMT) by 0.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,250 shares of the real estate investment trust’s stock after selling 467 shares during the period. American Tower makes up about 1.9% of Boston Family Office LLC’s holdings, making the stock its 6th largest position. Boston Family Office LLC’s holdings in American Tower were worth $17,584,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in AMT. Shelton Capital Management acquired a new position in shares of American Tower during the 2nd quarter worth $380,000. Arrowstreet Capital Limited Partnership raised its stake in shares of American Tower by 3.1% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 36,900 shares of the real estate investment trust’s stock worth $4,883,000 after buying an additional 1,100 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of American Tower during the 2nd quarter worth $4,251,000. Sterling Capital Management LLC raised its stake in shares of American Tower by 33.4% during the 2nd quarter. Sterling Capital Management LLC now owns 104,068 shares of the real estate investment trust’s stock worth $13,770,000 after buying an additional 26,082 shares during the last quarter. Finally, Piedmont Investment Advisors LLC raised its stake in shares of American Tower by 29.7% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 116,028 shares of the real estate investment trust’s stock worth $15,353,000 after buying an additional 26,556 shares during the last quarter. 91.75% of the stock is owned by institutional investors and hedge funds.
American Tower Corp (NYSE:AMT) opened at $133.57 on Friday. American Tower Corp has a one year low of $103.47 and a one year high of $155.28. The firm has a market cap of $60,040.00, a PE ratio of 50.79, a P/E/G ratio of 1.33 and a beta of 0.77. 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 announced that its board has approved a stock repurchase plan 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. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several research firms have recently issued reports on AMT. Argus lifted their price target on American Tower to $170.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. ValuEngine raised American Tower from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Morgan Stanley lifted their price target on American Tower from $155.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 14th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $177.00 price target (up previously from $156.00) on shares of American Tower in a research note on Monday, November 27th. One equities 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. The company has an average rating of “Buy” and an average target price of $158.60.
In related news, Chairman James D. Taiclet, Jr. sold 34,667 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $43,521,902.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the business’s 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 disclosure for this sale can be found here. Insiders sold a total of 75,251 shares of company stock valued at $11,026,134 in the last three months. 0.86% of the stock is currently owned by corporate insiders.
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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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