UMB Bank n.a. Sells 1,210 Shares of American Tower Co. (NYSE:AMT)

UMB Bank n.a. trimmed its position in shares of American Tower Co. (NYSE:AMT) by 13.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,088 shares of the real estate investment trust’s stock after selling 1,210 shares during the period. UMB Bank n.a.’s holdings in American Tower were worth $1,881,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMT. Bluefin Capital Management LLC bought a new stake in American Tower during the fourth quarter valued at about $413,000. Sunpointe LLC acquired a new position in shares of American Tower during the fourth quarter valued at about $236,000. Prospect Financial Services LLC acquired a new position in shares of American Tower during the fourth quarter valued at about $680,000. Wellington Wealth Strategies LLC. acquired a new position in shares of American Tower during the fourth quarter valued at about $374,000. Finally, Vancity Investment Management Ltd raised its position in shares of American Tower by 141.7% during the fourth quarter. Vancity Investment Management Ltd now owns 84,286 shares of the real estate investment trust’s stock valued at $18,196,000 after buying an additional 49,416 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction on 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 directly owns 31,873 shares of the company’s stock, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is currently owned by insiders.

American Tower Stock Performance

NYSE AMT opened at $219.27 on Friday. American Tower Co. has a 1-year low of $157.25 and a 1-year high of $243.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The company has a 50 day moving average of $228.56 and a 200-day moving average of $205.38. The firm has a market cap of $102.42 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 1.01 and a beta of 0.83.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the company earned $2.46 earnings per share. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be paid a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.96%. American Tower’s payout ratio is presently 121.80%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMT shares. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $245.00 to $230.00 in a research report on Thursday. Royal Bank of Canada upped their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. BMO Capital Markets increased their price target on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Finally, Mizuho increased their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.21.

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.