Peoples Bank KS Acquires New Holdings in American Tower Co. (NYSE:AMT)

Peoples Bank KS bought a new position in American Tower Co. (NYSE:AMT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 230 shares of the real estate investment trust’s stock, valued at approximately $53,000.

Several other large investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the first quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in shares of American Tower in the 2nd quarter worth approximately $25,000. Fairscale Capital LLC bought a new position in shares of American Tower in the second quarter valued at approximately $27,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower during the second quarter valued at approximately $29,000. Finally, SOA Wealth Advisors LLC. bought a new stake in American Tower during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on 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 directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Olivier Puech sold 10,005 shares of the business’s 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 sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Mizuho increased their target price on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. TD Cowen raised their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Scotiabank raised their price objective on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Two investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $234.00.

American Tower Stock Down 2.5 %

AMT traded down $5.64 during midday trading on Friday, hitting $223.64. 1,942,497 shares of the company’s stock traded hands, compared to its average volume of 2,231,376. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $104.46 billion, a PE ratio of 50.60, a price-to-earnings-growth ratio of 1.06 and a beta of 0.83. American Tower Co. has a one year low of $154.58 and a one year high of $243.56. The stock’s fifty day simple moving average is $228.68 and its 200-day simple moving average is $204.27.

American Tower (NYSE:AMT) last announced its quarterly 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 during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. As a group, equities analysts anticipate that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 146.61%.

About American Tower

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.