Fulton Bank N.A. Cuts Position in American Tower Co. (NYSE:AMT)

Fulton Bank N.A. lowered its position in shares of American Tower Co. (NYSE:AMT) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,435 shares of the real estate investment trust’s stock after selling 101 shares during the quarter. Fulton Bank N.A.’s holdings in American Tower were worth $566,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMT shares. BMO Capital Markets raised their target price on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Mizuho raised their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.00.

Insider Transactions at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is currently owned by insiders.

American Tower Stock Up 0.4 %

NYSE:AMT opened at $224.25 on Wednesday. The stock has a 50-day simple moving average of $229.04 and a 200 day simple moving average of $204.79. American Tower Co. has a one year low of $157.25 and a one year high of $243.56. The company has a market capitalization of $104.74 billion, a price-to-earnings ratio of 50.74, a price-to-earnings-growth ratio of 1.02 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). The firm 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 revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.46 EPS. Sell-side analysts predict that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.89%. 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.