Adirondack Trust Co. Acquires 59 Shares of American Tower Co. (NYSE:AMT)

Adirondack Trust Co. increased its holdings in American Tower Co. (NYSE:AMTFree Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,813 shares of the real estate investment trust’s stock after buying an additional 59 shares during the period. Adirondack Trust Co.’s holdings in American Tower were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AMT. Collective Family Office LLC acquired a new position in shares of American Tower in the 1st quarter valued at approximately $205,000. New Hampshire Trust increased its stake in American Tower by 1.2% in the first quarter. New Hampshire Trust now owns 9,683 shares of the real estate investment trust’s stock valued at $1,913,000 after acquiring an additional 116 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in American Tower by 12.1% during the first quarter. Massmutual Trust Co. FSB ADV now owns 18,355 shares of the real estate investment trust’s stock valued at $3,627,000 after purchasing an additional 1,982 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of American Tower in the 1st quarter valued at $49,000. Finally, Emprise Bank bought a new position in shares of American Tower in the 1st quarter valued at $321,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the transaction, the director now directly owns 7,332 shares in the company, valued at approximately $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on AMT shares. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. BMO Capital Markets decreased their price target on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Barclays lowered their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. JPMorgan Chase & Co. cut their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Finally, Mizuho started coverage on shares of American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target for the company. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus price target of $220.91.

Check Out Our Latest Stock Report on American Tower

American Tower Trading Up 0.3 %

AMT traded up $0.53 during trading on Thursday, hitting $193.31. The company’s stock had a trading volume of 729,793 shares, compared to its average volume of 2,432,854. The firm has a market capitalization of $90.27 billion, a P/E ratio of 43.62, a PEG ratio of 1.37 and a beta of 0.79. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The stock’s fifty day moving average price is $185.46 and its 200-day moving average price is $195.75. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMTGet Free Report) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.54 EPS. Analysts anticipate that American Tower Co. will post 10.03 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s payout ratio is 146.61%.

American Tower Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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