Bremer Trust National Association Buys New Holdings in American Tower Corp (AMT)

Bremer Trust National Association bought a new stake in shares of American Tower Corp (NYSE:AMT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,754 shares of the real estate investment trust’s stock, valued at approximately $250,000.

A number of other hedge funds also recently bought and sold shares of the business. Janus Henderson Group PLC grew its holdings in shares of American Tower by 1,886.3% during the second quarter. Janus Henderson Group PLC now owns 7,468,416 shares of the real estate investment trust’s stock worth $988,214,000 after purchasing an additional 7,092,413 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of American Tower by 823.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,606,119 shares of the real estate investment trust’s stock worth $212,525,000 after purchasing an additional 1,432,155 shares in the last quarter. Atlantic Trust Group LLC grew its holdings in shares of American Tower by 89.8% during the third quarter. Atlantic Trust Group LLC now owns 1,896,026 shares of the real estate investment trust’s stock worth $259,148,000 after purchasing an additional 897,138 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of American Tower by 3.2% during the second quarter. Vanguard Group Inc. now owns 28,442,502 shares of the real estate investment trust’s stock worth $3,763,512,000 after purchasing an additional 881,020 shares in the last quarter. Finally, Winslow Capital Management LLC grew its holdings in shares of American Tower by 36.5% during the second quarter. Winslow Capital Management LLC now owns 2,539,716 shares of the real estate investment trust’s stock worth $336,055,000 after purchasing an additional 679,096 shares in the last quarter. 91.61% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently commented on AMT shares. Argus boosted their price objective on American Tower to $170.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research raised American Tower from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a report on Friday, November 3rd. Jefferies Group boosted their price objective on American Tower from $144.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Cowen reissued a “buy” rating on shares of American Tower in a report on Tuesday, October 24th. Finally, ValuEngine raised American Tower from a “hold” rating to a “buy” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $158.60.

In related news, Director David E. Sharbutt sold 1,584 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 4,861 shares in the company, valued at approximately $702,122.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Samme L. Thompson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total value of $715,800.00. The disclosure for this sale can be found here. Insiders sold a total of 109,251 shares of company stock valued at $15,765,734 in the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

Shares of American Tower Corp (AMT) opened at $133.00 on Friday. The firm has a market capitalization of $57,910.00, a P/E ratio of 50.57, a P/E/G ratio of 1.40 and a beta of 0.73. American Tower Corp has a 12-month low of $102.73 and a 12-month high of $155.28. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, December 28th will be given a $0.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 2.11%. American Tower’s payout ratio is presently 106.46%.

American Tower announced that its board has authorized a share buyback program on Thursday, December 7th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign 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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