American Tower Co. (NYSE:AMT) Shares Purchased by CENTRAL TRUST Co

CENTRAL TRUST Co raised its position in American Tower Co. (NYSE:AMT) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,935 shares of the real estate investment trust’s stock after buying an additional 701 shares during the period. CENTRAL TRUST Co’s holdings in American Tower were worth $2,310,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Czech National Bank increased its holdings in American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after purchasing an additional 6,163 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after acquiring an additional 4,660 shares in the last quarter. Tidal Investments LLC boosted its stake in 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 valued at $4,029,000 after acquiring an additional 4,430 shares during the last quarter. Cetera Advisors LLC grew its holdings in American Tower by 29.0% during the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after acquiring an additional 9,275 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of American Tower by 5.3% in the 1st quarter. Nordea Investment Management AB now owns 871,635 shares of the real estate investment trust’s stock worth $172,061,000 after purchasing an additional 43,531 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. The Goldman Sachs Group assumed coverage on American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price target for the company. TD Cowen upped their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted 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. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, BMO Capital Markets boosted their price objective on shares of American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $237.92.

Insider Activity

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 directly owns 51,746 shares in the company, valued at $12,070,789.42. This 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. 0.18% of the stock is currently owned by company insiders.

American Tower Trading Down 0.2 %

NYSE:AMT opened at $225.88 on Friday. The stock has a market cap of $105.50 billion, a price-to-earnings ratio of 42.46, a PEG ratio of 1.08 and a beta of 0.83. The business has a fifty day moving average of $228.58 and a 200-day moving average of $207.19. American Tower Co. has a 1 year low of $160.49 and a 1 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.

American Tower (NYSE:AMT) last issued 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). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the company posted $2.46 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. Equities analysts predict that American Tower Co. will post 10.12 earnings per share for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio is presently 121.80%.

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.