Community Trust & Investment Co. Has $3.51 Million Stake in American Tower Co. (NYSE:AMT)

Community Trust & Investment Co. lowered its position in American Tower Co. (NYSE:AMT) by 3.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,079 shares of the real estate investment trust’s stock after selling 470 shares during the period. Community Trust & Investment Co.’s holdings in American Tower were worth $3,507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BLB&B Advisors LLC increased its stake in shares of American Tower by 5.2% during the 3rd quarter. BLB&B Advisors LLC now owns 1,813 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 89 shares during the last quarter. Eastern Bank increased its position in American Tower by 1,607.1% during the third quarter. Eastern Bank now owns 102,427 shares of the real estate investment trust’s stock worth $23,820,000 after buying an additional 96,427 shares during the last quarter. Signaturefd LLC raised its holdings in American Tower by 7.9% during the third quarter. Signaturefd LLC now owns 8,004 shares of the real estate investment trust’s stock valued at $1,861,000 after buying an additional 585 shares in the last quarter. Oakworth Capital Inc. lifted its position in shares of American Tower by 85.7% in the third quarter. Oakworth Capital Inc. now owns 390 shares of the real estate investment trust’s stock worth $91,000 after buying an additional 180 shares during the last quarter. Finally, Ledyard National Bank boosted its stake in shares of American Tower by 1.1% during the 3rd quarter. Ledyard National Bank now owns 5,662 shares of the real estate investment trust’s stock worth $1,317,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.0 %

AMT opened at $221.52 on Wednesday. American Tower Co. has a fifty-two week low of $157.25 and a fifty-two week high of $243.56. The company has a market capitalization of $103.44 billion, a P/E ratio of 50.12, a P/E/G ratio of 1.03 and a beta of 0.83. 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 fifty day moving average price is $228.52 and its two-hundred day moving average price is $207.05.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share 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 the consensus estimate of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 EPS. On average, analysts anticipate that American Tower Co. will post 10.12 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio is 146.61%.

Insider Buying and Selling at American Tower

In other American Tower 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 completion of the transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. 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 this link. In related news, 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 transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower 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 transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock worth $7,795,397 over the last three months. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on AMT. Scotiabank increased their price target on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Barclays upped their price target on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Mizuho lifted their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

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.