Peoples Bank OH lifted its position in shares of American Tower Corp (NYSE:AMT) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,602 shares of the real estate investment trust’s stock after purchasing an additional 61 shares during the quarter. Peoples Bank OH’s holdings in American Tower were worth $354,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in AMT. Nelson Roberts Investment Advisors LLC bought a new position in shares of American Tower during the 2nd quarter worth approximately $27,000. NewSquare Capital LLC lifted its position in shares of American Tower by 192.3% during the 2nd quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 100 shares during the period. Next Capital Management LLC bought a new position in shares of American Tower during the 2nd quarter worth approximately $31,000. CX Institutional lifted its position in shares of American Tower by 54.9% during the 2nd quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 56 shares during the period. Finally, Litman Gregory Asset Management LLC bought a new position in shares of American Tower during the 2nd quarter worth approximately $33,000. 92.56% of the stock is currently owned by institutional investors.
AMT has been the subject of several analyst reports. Morgan Stanley raised their target price on American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. ValuEngine downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup raised their target price on American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. KeyCorp raised their target price on American Tower from $225.00 to $253.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Finally, SunTrust Banks raised their target price on American Tower to $230.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. American Tower currently has an average rating of “Hold” and an average price target of $206.87.
In other American Tower news, Director David E. Sharbutt sold 2,039 shares of American Tower stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $217.59, for a total value of $443,666.01. Following the completion of the transaction, the director now owns 3,936 shares in the company, valued at approximately $856,434.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of American Tower stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $211.89, for a total value of $12,170,537.82. Following the completion of the transaction, the chief executive officer now owns 255,414 shares of the company’s stock, valued at approximately $54,119,672.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,001 shares of company stock valued at $44,133,551. Corporate insiders own 0.75% of the company’s stock.
Shares of AMT opened at $229.09 on Friday. The stock has a fifty day moving average price of $224.88 and a two-hundred day moving average price of $211.14. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49. American Tower Corp has a 52-week low of $146.90 and a 52-week high of $242.00. The company has a market cap of $100.01 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 1.80 and a beta of 0.44.
American Tower (NYSE:AMT) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.91). American Tower had a net margin of 19.30% and a return on equity of 24.75%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts predict that American Tower Corp will post 7.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, September 27th were given a $0.95 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $3.80 annualized dividend and a yield of 1.66%. American Tower’s payout ratio is presently 47.56%.
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 approximately 171,000 communications sites.
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