American Trust Has $918,000 Stake in American Tower Co. (NYSE:AMT)

American Trust lowered its holdings in American Tower Co. (NYSE:AMT) by 77.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,724 shares of the real estate investment trust’s stock after selling 16,428 shares during the period. American Trust’s holdings in American Tower were worth $918,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meyer Handelman Co. acquired a new stake in shares of American Tower in the first quarter valued at about $801,000. Kingsview Wealth Management LLC raised its stake in shares of American Tower by 13.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after purchasing an additional 4,660 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after buying an additional 4,430 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of American Tower by 29.0% in the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after buying an additional 9,275 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of American Tower by 5.3% in the first quarter. Nordea Investment Management AB now owns 871,635 shares of the real estate investment trust’s stock valued at $172,061,000 after buying an additional 43,531 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada lifted their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Scotiabank upped their price objective on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. TD Cowen lifted their target price on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $234.00.

American Tower Stock Down 0.2 %

NYSE AMT opened at $232.01 on Wednesday. The company has a market cap of $108.37 billion, a price-to-earnings ratio of 52.49, a PEG ratio of 1.05 and a beta of 0.83. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $243.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The company has a 50 day moving average of $227.84 and a 200-day moving average of $203.89.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 earnings per share. On average, equities research analysts expect that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is presently 146.61%.

Insider Transactions at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,723 shares of company stock valued at $7,795,397. Company insiders own 0.18% of the company’s stock.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.