American Tower Co. (NYSE:AMT) Shares Acquired by Legacy Private Trust Co.

Legacy Private Trust Co. raised its stake in shares of American Tower Co. (NYSE:AMTFree Report) by 22.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,138 shares of the real estate investment trust’s stock after acquiring an additional 208 shares during the quarter. Legacy Private Trust Co.’s holdings in American Tower were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Alera Investment Advisors LLC grew its stake in American Tower by 1.3% during the fourth quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after buying an additional 51 shares in the last quarter. Allstate Corp boosted its stake in shares of 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 purchasing an additional 53 shares in the last quarter. First Business Financial Services Inc. raised its stake in shares of American Tower by 1.3% during the third quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock valued at $705,000 after acquiring an additional 55 shares during the last quarter. Augustine Asset Management Inc. lifted its holdings in shares of American Tower by 0.8% during the fourth quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock worth $1,531,000 after purchasing an additional 56 shares during the period. Finally, McIlrath & Eck LLC grew its stake in shares of American Tower by 13.9% in the fourth 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 last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.9 %

Shares of NYSE:AMT traded up $1.75 during midday trading on Friday, hitting $195.92. 909,948 shares of the company’s stock were exchanged, compared to its average volume of 2,432,716. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50 day moving average price of $185.77 and a 200-day moving average price of $195.73. The company has a market cap of $91.49 billion, a PE ratio of 43.93, a price-to-earnings-growth ratio of 1.37 and a beta of 0.79. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10.

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

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 3.31%. American Tower’s dividend payout ratio is currently 146.61%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AMT shares. BMO Capital Markets decreased their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Barclays decreased their target price 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. Morgan Stanley boosted their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Scotiabank decreased their price objective on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $220.91.

View Our Latest Research Report on AMT

Insider Activity at American Tower

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction dated Tuesday, June 4th. The shares were 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 in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. Also, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value 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 insiders.

About American Tower

(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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