5,458 Shares in American Tower Co. (NYSE:AMT) Acquired by Northwest Bank & Trust Co

Northwest Bank & Trust Co bought a new position in American Tower Co. (NYSE:AMT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,458 shares of the real estate investment trust’s stock, valued at approximately $1,178,000. American Tower comprises approximately 1.1% of Northwest Bank & Trust Co’s holdings, making the stock its 24th biggest holding.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in American Tower in the fourth quarter valued at approximately $1,051,898,000. Edgewood Management LLC lifted its position in American Tower by 46.2% in the fourth quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock valued at $1,076,352,000 after purchasing an additional 1,576,683 shares during the last quarter. Jennison Associates LLC lifted its position in American Tower by 41.0% in the fourth quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock valued at $1,144,014,000 after purchasing an additional 1,541,029 shares during the last quarter. International Assets Investment Management LLC lifted its position in American Tower by 16,195.9% in the fourth quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock valued at $1,833,560,000 after purchasing an additional 844,128 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in American Tower by 5.6% in the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock valued at $2,135,227,000 after purchasing an additional 691,934 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.0 %

AMT stock traded up $1.85 during midday trading on Friday, hitting $197.03. The stock had a trading volume of 1,933,243 shares, compared to its average volume of 2,297,492. The firm has a market cap of $92.01 billion, a price-to-earnings ratio of 44.58, a price-to-earnings-growth ratio of 1.40 and a beta of 0.79. The business has a 50-day moving average of $185.16 and a two-hundred day moving average of $196.08. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the prior year, the company posted $2.54 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts forecast that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business 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 of this dividend is Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.29%. American Tower’s dividend payout ratio is currently 146.61%.

Analyst Ratings Changes

AMT has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their target price 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. Barclays reduced their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. BMO Capital Markets reduced their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley boosted their target price on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $220.91.

Insider Transactions at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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.