Northwest Bank & Trust Co Has $1.13 Million Position in American Tower Co. (NYSE:AMT)

Northwest Bank & Trust Co reduced its holdings in shares of American Tower Co. (NYSE:AMT) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,876 shares of the real estate investment trust’s stock after selling 80 shares during the quarter. American Tower makes up approximately 0.9% of Northwest Bank & Trust Co’s holdings, making the stock its 24th biggest position. Northwest Bank & Trust Co’s holdings in American Tower were worth $1,134,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the 1st quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in shares of American Tower in the 2nd quarter valued at approximately $25,000. Fairscale Capital LLC acquired a new stake in shares of American Tower in the 2nd quarter valued at approximately $27,000. Hobbs Group Advisors LLC acquired a new stake in American Tower during the 2nd quarter valued at $29,000. Finally, SOA Wealth Advisors LLC. acquired a new stake in American Tower during the 1st quarter valued at $30,000. 92.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction 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 completion of the transaction, 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 SEC, which is available at this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock worth $7,795,397 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Royal Bank of Canada raised their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. BMO Capital Markets lifted their target price on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. JPMorgan Chase & Co. lifted their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. The Goldman Sachs Group assumed coverage on American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 target price on the stock. Finally, Scotiabank lifted their price target 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. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.21.

American Tower Stock Down 0.6 %

Shares of American Tower stock traded down $1.38 on Thursday, reaching $219.40. The company’s stock had a trading volume of 660,737 shares, compared to its average volume of 2,290,604. The company has a market capitalization of $102.45 billion, a price-to-earnings ratio of 49.65, a P/E/G ratio of 1.02 and a beta of 0.83. The firm’s fifty day simple moving average is $229.07 and its two-hundred day simple moving average is $205.12. American Tower Co. has a 52 week low of $157.25 and a 52 week high of $243.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

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 the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter last year, the firm posted $2.46 earnings per share. American Tower’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts anticipate that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Announces Dividend

The business 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 of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.95%. American Tower’s dividend payout ratio is currently 146.61%.

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.