DekaBank Deutsche Girozentrale Has $116.96 Million Stake in American Tower Co. (NYSE:AMT)

DekaBank Deutsche Girozentrale raised its holdings in American Tower Co. (NYSE:AMT) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 600,929 shares of the real estate investment trust’s stock after buying an additional 55,347 shares during the period. DekaBank Deutsche Girozentrale’s holdings in American Tower were worth $116,964,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 1st quarter valued at about $25,000. Gold Investment Management Ltd. bought a new stake in American Tower in the fourth quarter valued at approximately $28,000. Cultivar Capital Inc. acquired a new stake in shares of American Tower in the second quarter valued at approximately $25,000. Private Wealth Management Group LLC bought a new position in shares of American Tower during the 4th quarter worth approximately $31,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of American Tower during the 2nd quarter worth approximately $29,000. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. The Goldman Sachs Group started coverage on American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 target price on the stock. Wells Fargo & Company increased their price objective on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Barclays decreased their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $233.29.

American Tower Price Performance

American Tower stock opened at $238.50 on Friday. The stock has a fifty day moving average of $221.05 and a 200-day moving average of $201.08. The stock has a market capitalization of $111.37 billion, a P/E ratio of 53.96, a price-to-earnings-growth ratio of 1.59 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last posted its earnings results 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 company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $2.46 EPS. On average, sell-side analysts expect that American Tower Co. will post 10.18 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.72%. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

Insider Buying and Selling at American Tower

In other news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated 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 sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was 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 directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is currently 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.