American Tower Co. (NYSE:AMT) Shares Sold by Bath Savings Trust Co

Bath Savings Trust Co cut its position in shares of American Tower Co. (NYSE:AMT) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,441 shares of the real estate investment trust’s stock after selling 1,402 shares during the quarter. American Tower accounts for 1.5% of Bath Savings Trust Co’s investment portfolio, making the stock its 23rd biggest holding. Bath Savings Trust Co’s holdings in American Tower were worth $14,986,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMT. Meyer Handelman Co. acquired a new stake in American Tower in the 1st quarter valued at about $801,000. Czech National Bank grew its position in shares of American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 6,163 shares during the last quarter. Kingsview Wealth Management LLC increased 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 raised its position in shares of American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after purchasing an additional 4,430 shares during the last quarter. Finally, Cetera Advisors LLC lifted its stake in American Tower by 29.0% in the 1st 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. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Down 0.1 %

NYSE:AMT opened at $223.36 on Tuesday. The stock has a market cap of $104.30 billion, a price-to-earnings ratio of 50.53, a price-to-earnings-growth ratio of 1.06 and a beta of 0.83. American Tower Co. has a one year low of $157.25 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day simple moving average is $228.88 and its 200 day simple moving average is $204.58.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the company earned $2.46 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts predict that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio is currently 146.61%.

Insiders Place Their Bets

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AMT shares. Scotiabank boosted their price target on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. The Goldman Sachs Group assumed coverage on shares of American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, TD Cowen lifted their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.00.

American Tower 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.