Commerzbank Aktiengesellschaft FI Lowers Stock Holdings in American Tower Co. (NYSE:AMT)

Commerzbank Aktiengesellschaft FI decreased its position in shares of American Tower Co. (NYSE:AMT) by 55.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,752 shares of the real estate investment trust’s stock after selling 18,074 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in American Tower were worth $3,431,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMT. NBT Bank N A NY grew its holdings in shares of American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after purchasing an additional 54 shares in the last quarter. CX Institutional increased its position in shares of American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after acquiring an additional 54 shares during the period. O Brien Greene & Co. Inc increased its position in shares of American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 55 shares during the period. CFO4Life Group LLC boosted its holdings in American Tower by 5.4% in the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC grew its stake in American Tower by 4.9% during the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 58 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. The Goldman Sachs Group assumed coverage on shares of American Tower in a report on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Scotiabank increased their price target on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average target price of $237.92.

Insiders Place Their Bets

In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were 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 owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,723 shares of company stock worth $7,795,397. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of AMT opened at $223.58 on Wednesday. The company has a market capitalization of $104.41 billion, a price-to-earnings ratio of 50.12, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83. American Tower Co. has a fifty-two week low of $159.91 and a fifty-two week high of $243.56. The firm has a 50-day simple moving average of $228.52 and a 200-day simple moving average of $207.05. 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 (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the firm posted $2.46 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that American Tower Co. will post 10.12 earnings per share for the current year.

American Tower Announces Dividend

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 issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio is presently 146.61%.

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.