American Tower Co. (NYSE:AMT) Shares Acquired by Intrust Bank NA

Intrust Bank NA boosted its holdings in American Tower Co. (NYSE:AMT) by 6.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,856 shares of the real estate investment trust’s stock after acquiring an additional 337 shares during the period. Intrust Bank NA’s holdings in American Tower were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. U.S. Capital Wealth Advisors LLC increased its stake in American Tower by 1.9% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 5,975 shares of the real estate investment trust’s stock worth $983,000 after acquiring an additional 112 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of American Tower by 4.4% during the third quarter. Brookstone Capital Management now owns 5,628 shares of the real estate investment trust’s stock worth $897,000 after purchasing an additional 237 shares in the last quarter. PDS Planning Inc grew its stake in shares of American Tower by 16.1% in the third quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 253 shares in the last quarter. Compagnie Lombard Odier SCmA raised its holdings in shares of American Tower by 49.1% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 1,396 shares of the real estate investment trust’s stock valued at $230,000 after buying an additional 460 shares during the period. Finally, RMR Wealth Builders raised its stake in shares of American Tower by 142.2% during the third quarter. RMR Wealth Builders now owns 4,420 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,595 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on AMT shares. Mizuho initiated coverage on American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. Barclays boosted their target price on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Morgan Stanley lifted their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. decreased their price target on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $217.36.

American Tower Price Performance

Shares of NYSE AMT traded up $0.19 during trading hours on Tuesday, hitting $175.18. 421,426 shares of the stock were exchanged, compared to its average volume of 2,392,317. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a market cap of $81.70 billion, a PE ratio of 55.05, a price-to-earnings-growth ratio of 1.36 and a beta of 0.67. The company’s fifty day simple moving average is $190.05 and its two-hundred day simple moving average is $194.49.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 earnings per share. On average, sell-side analysts predict that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a $1.62 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $6.48 annualized dividend and a yield of 3.70%. American Tower’s dividend payout ratio is currently 203.77%.

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.