American Tower Co. (REIT) (NYSE:AMT) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. cut its holdings in shares of American Tower Co. (REIT) (NYSE:AMT) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,816 shares of the real estate investment trust’s stock after selling 820 shares during the period. American Tower makes up approximately 1.4% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 27th biggest position. Stock Yards Bank & Trust Co.’s holdings in American Tower were worth $21,715,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Hoylecohen LLC raised its holdings in shares of American Tower by 1.2% during the first quarter. Hoylecohen LLC now owns 27,569 shares of the real estate investment trust’s stock valued at $6,591,000 after acquiring an additional 326 shares during the period. Gladstone Institutional Advisory LLC acquired a new stake in shares of American Tower during the first quarter valued at approximately $205,000. Colony Group LLC raised its holdings in shares of American Tower by 3.9% during the first quarter. Colony Group LLC now owns 20,139 shares of the real estate investment trust’s stock valued at $4,814,000 after acquiring an additional 747 shares during the period. Stonnington Group LLC acquired a new stake in shares of American Tower during the first quarter valued at approximately $497,000. Finally, Childress Capital Advisors LLC raised its holdings in shares of American Tower by 12.5% during the first quarter. Childress Capital Advisors LLC now owns 882 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 98 shares during the period. 89.57% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on the stock. Credit Suisse Group boosted their price target on shares of American Tower from $324.00 to $328.00 and gave the company an “outperform” rating in a report on Friday, October 29th. Truist Securities upped their price objective on shares of American Tower from $280.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Truist upped their price objective on shares of American Tower from $280.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Morgan Stanley upped their price objective on shares of American Tower from $270.00 to $316.00 and gave the company an “equal weight” rating in a research note on Friday, September 10th. They noted that the move was a valuation call. Finally, Argus increased their price target on shares of American Tower from $288.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, August 12th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $297.71.

Shares of NYSE AMT traded up $3.48 during trading hours on Thursday, hitting $265.48. 1,321,092 shares of the stock were exchanged, compared to its average volume of 1,812,782. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.30 and a quick ratio of 1.30. The company’s 50 day moving average is $274.67 and its 200 day moving average is $274.72. The firm has a market capitalization of $120.90 billion, a P/E ratio of 48.27, a P/E/G ratio of 2.18 and a beta of 0.30. American Tower Co. has a one year low of $197.50 and a one year high of $303.72.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Wednesday, October 27th. The real estate investment trust reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.69). American Tower had a net margin of 27.44% and a return on equity of 39.34%. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the company earned $2.23 earnings per share. American Tower’s revenue for the quarter was up 21.9% on a year-over-year basis. Research analysts anticipate that American Tower Co. will post 9.18 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 15th. Shareholders of record on Tuesday, September 28th were issued a $1.31 dividend. The ex-dividend date was Monday, September 27th. This is an increase from American Tower’s previous quarterly dividend of $1.27. This represents a $5.24 dividend on an annualized basis and a yield of 1.97%. American Tower’s dividend payout ratio is 95.27%.

In other news, Director David E. Sharbutt sold 739 shares of the stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $300.71, for a total value of $222,224.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joann A. Reed sold 866 shares of the stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $260.50, for a total transaction of $225,593.00. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.

American Tower Company Profile

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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