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

Hills Bank & Trust Co cut its stake in American Tower Co. (NYSE:AMT) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,293 shares of the real estate investment trust’s stock after selling 510 shares during the quarter. Hills Bank & Trust Co’s holdings in American Tower were worth $4,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AMT. Allstate Corp grew its position in American Tower by 3.1% during the fourth quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after buying an additional 53 shares during the period. McIlrath & Eck LLC boosted its stake in shares of American Tower by 13.9% during the 4th quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 56 shares during the period. Glassman Wealth Services lifted its stake in American Tower by 4.7% in the fourth quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock worth $268,000 after purchasing an additional 56 shares during the last quarter. CFO4Life Group LLC boosted its position in shares of American Tower by 5.4% during the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 57 shares during the period. Finally, Choreo LLC lifted its stake in shares of American Tower by 1.4% during the 4th quarter. Choreo LLC now owns 4,269 shares of the real estate investment trust’s stock worth $922,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Insiders sold a total of 37,227 shares of company stock worth $8,497,458 over the last three months. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Up 3.1 %

Shares of AMT traded up $6.90 during trading hours on Friday, hitting $227.00. The company had a trading volume of 1,803,979 shares, compared to its average volume of 2,597,717. American Tower Co. has a one year low of $154.58 and a one year high of $236.13. The company’s fifty day moving average price is $209.70 and its two-hundred day moving average price is $196.77. The company has a market capitalization of $106.03 billion, a PE ratio of 51.36, a price-to-earnings-growth ratio of 1.48 and a beta of 0.81. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT) last announced 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). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm posted $2.46 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that American Tower Co. will post 10.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMT has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Scotiabank increased their price objective on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets restated an “outperform” rating and set a $246.00 price objective (up from $225.00) on shares of American Tower in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $231.14.

American Tower Company 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.