Czech National Bank Buys 343 Shares of American Tower Co. (NYSE:AMT)

Czech National Bank boosted its position in shares of American Tower Co. (NYSE:AMT) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,022 shares of the real estate investment trust’s stock after acquiring an additional 343 shares during the period. Czech National Bank’s holdings in American Tower were worth $16,207,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. bought a new stake in American Tower in the 3rd quarter valued at $3,579,000. Balentine LLC acquired a new position in American Tower in the third quarter worth about $296,000. Mirabella Financial Services LLP bought a new position in American Tower during the third quarter worth about $537,000. Robertson Stephens Wealth Management LLC boosted its holdings in American Tower by 24.9% during the third quarter. Robertson Stephens Wealth Management LLC now owns 1,405 shares of the real estate investment trust’s stock valued at $231,000 after purchasing an additional 280 shares in the last quarter. Finally, Glenview Trust co grew its stake in shares of American Tower by 16.4% in the 3rd quarter. Glenview Trust co now owns 5,729 shares of the real estate investment trust’s stock valued at $942,000 after purchasing an additional 809 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.7 %

NYSE:AMT traded up $1.38 during trading hours on Thursday, hitting $194.16. 2,236,262 shares of the stock were exchanged, compared to its average volume of 2,445,621. The company has a market capitalization of $90.67 billion, a P/E ratio of 43.93, a price-to-earnings-growth ratio of 1.37 and a beta of 0.79. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The company’s 50 day moving average is $185.77 and its two-hundred day moving average is $195.73. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10.

American Tower (NYSE:AMT) last issued its quarterly 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 firm 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 company’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $2.54 EPS. On average, sell-side analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insider Activity at American Tower

In other American Tower news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction on 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 sale, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction that occurred on 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 owns 28,413 shares in the company, valued at $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AMT has been the topic of several recent analyst reports. Scotiabank decreased their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 1st. Mizuho assumed coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Morgan Stanley lifted their price target on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 28th. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.91.

About American Tower

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.