Czech National Bank Buys 343 Shares of American Tower Co. (NYSE:AMT)

Czech National Bank grew its stake in shares of American Tower Co. (NYSE:AMTFree Report) by 0.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,022 shares of the real estate investment trust’s stock after buying an additional 343 shares during the quarter. Czech National Bank’s holdings in American Tower were worth $16,207,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Adirondack Trust Co. grew its position in American Tower by 2.1% during the 1st quarter. Adirondack Trust Co. now owns 2,813 shares of the real estate investment trust’s stock worth $556,000 after acquiring an additional 59 shares during the last quarter. Collective Family Office LLC acquired a new stake in shares of American Tower during the first quarter valued at about $205,000. New Hampshire Trust grew its holdings in shares of American Tower by 1.2% during the first quarter. New Hampshire Trust now owns 9,683 shares of the real estate investment trust’s stock worth $1,913,000 after purchasing an additional 116 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in American Tower by 12.1% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 18,355 shares of the real estate investment trust’s stock valued at $3,627,000 after buying an additional 1,982 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in American Tower during the 1st quarter worth approximately $49,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 0.7 %

AMT stock traded up $1.38 during mid-day trading on Thursday, reaching $194.16. The company’s stock had a trading volume of 2,236,262 shares, compared to its average volume of 2,445,621. The company has a market cap of $90.67 billion, a price-to-earnings ratio of 43.93, a price-to-earnings-growth ratio of 1.37 and a beta of 0.79. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The business’s 50 day moving average price is $185.77 and its 200 day moving average price is $195.73. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMTGet Free Report) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.54 EPS. On average, equities research analysts predict that American Tower Co. will post 10.03 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be paid a $1.62 dividend. The ex-dividend date is Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 3.34%. American Tower’s dividend payout ratio is presently 146.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays decreased their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Scotiabank decreased their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Morgan Stanley lifted their target price on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. BMO Capital Markets decreased their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $220.91.

View Our Latest Stock Analysis on American Tower

Insider Activity at American Tower

In other American Tower news, Director Robert D. Hormats sold 700 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now owns 7,332 shares in the company, valued at $1,345,422. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other American Tower news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

About American Tower

(Free Report)

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.

See Also

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

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