John G Ullman & Associates Inc. Buys 3,736 Shares of American Tower Corporation $AMT

John G Ullman & Associates Inc. grew its stake in American Tower Corporation (NYSE:AMT) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,718 shares of the real estate investment trust’s stock after acquiring an additional 3,736 shares during the period. American Tower accounts for about 1.5% of John G Ullman & Associates Inc.’s investment portfolio, making the stock its 17th biggest position. John G Ullman & Associates Inc.’s holdings in American Tower were worth $10,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in American Tower by 8.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock worth $18,615,000 after acquiring an additional 7,872 shares during the period. Eastern Bank boosted its position in shares of American Tower by 69.6% in the 3rd quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock worth $26,750,000 after purchasing an additional 57,078 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of American Tower by 92.4% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock worth $11,808,000 after purchasing an additional 29,486 shares during the period. Machina Capital S.A.S. acquired a new stake in shares of American Tower during the third quarter worth $2,871,000. Finally, Stack Financial Management Inc bought a new stake in American Tower in the second quarter valued at about $13,020,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of AMT stock opened at $171.79 on Friday. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. American Tower Corporation has a 52 week low of $166.88 and a 52 week high of $234.33. The company’s 50 day moving average price is $176.92 and its two-hundred day moving average price is $189.17. The company has a market capitalization of $80.42 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 0.74 and a beta of 0.93.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, December 29th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, December 29th. American Tower’s payout ratio is currently 108.63%.

Analyst Ratings Changes

AMT has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their target price on American Tower from $230.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 16th. HSBC cut their price target on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Royal Bank Of Canada decreased their price objective on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a report on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a report on Monday, December 29th. Finally, New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target on the stock in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $218.79.

Insiders Place Their Bets

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the transaction, the insider owned 211,379 shares in the company, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.