Stock Yards Bank & Trust Co. Cuts Stock Holdings in American Tower Co. (NYSE:AMT)

Stock Yards Bank & Trust Co. trimmed its holdings in American Tower Co. (NYSE:AMT) by 2.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 129,049 shares of the real estate investment trust’s stock after selling 2,875 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in American Tower were worth $25,085,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Fortis Capital Advisors LLC purchased a new stake in shares of American Tower in the 4th quarter worth $220,000. Accretive Wealth Partners LLC increased its holdings in shares of American Tower by 9.4% in the 4th quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock worth $958,000 after buying an additional 380 shares during the last quarter. Aveo Capital Partners LLC purchased a new stake in American Tower during the fourth quarter valued at approximately $344,000. Gryphon Financial Partners LLC raised its holdings in American Tower by 17.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 10,950 shares of the real estate investment trust’s stock valued at $2,472,000 after buying an additional 1,620 shares during the period. Finally, Meridian Wealth Management LLC purchased a new stake in shares of American Tower in the fourth quarter valued at $223,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. TD Cowen raised their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Scotiabank boosted their price objective on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. 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. JPMorgan Chase & Co. boosted their target price on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus price target of $233.29.

American Tower Price Performance

Shares of NYSE AMT opened at $240.32 on Tuesday. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $243.56. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50 day simple moving average is $221.93 and its 200-day simple moving average is $201.52. The stock has a market capitalization of $112.25 billion, a price-to-earnings ratio of 54.37, a PEG ratio of 1.57 and a beta of 0.83.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 earnings per share. Analysts expect that American Tower Co. will post 10.18 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.70%. American Tower’s payout ratio is currently 146.61%.

Insider Activity at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by insiders.

American Tower Profile

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.