Ledyard National Bank Boosts Holdings in American Tower Co. (NYSE:AMT)

Ledyard National Bank grew its holdings in American Tower Co. (NYSE:AMT) by 1.1% during the 3rd quarter, Holdings Channel reports. The fund owned 5,662 shares of the real estate investment trust’s stock after buying an additional 62 shares during the period. Ledyard National Bank’s holdings in American Tower were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. NBT Bank N A NY grew its holdings in American Tower by 3.3% during 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 during the period. CX Institutional grew its stake in shares of American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after acquiring an additional 54 shares during the period. O Brien Greene & Co. Inc grew its stake in shares of American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after acquiring an additional 55 shares during the period. CFO4Life Group LLC increased its holdings in American Tower by 5.4% in the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after acquiring an additional 57 shares in the last quarter. Finally, Tyche Wealth Partners LLC raised 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 acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

In other American Tower 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 transaction, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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

American Tower stock opened at $221.49 on Tuesday. The firm has a market capitalization of $103.43 billion, a PE ratio of 50.11, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83. American Tower Co. has a 12-month low of $157.25 and a 12-month high of $243.56. The firm has a 50-day moving average price of $228.54 and a 200-day moving average price of $206.83. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT) last issued its quarterly 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 return on equity of 23.06% and a net margin of 21.95%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the business posted $2.46 earnings per share. American Tower’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that American Tower Co. will post 10.12 EPS for the current year.

American Tower Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio is 146.61%.

Analysts Set New Price Targets

AMT has been the topic of several recent analyst reports. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Scotiabank increased their target price on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Barclays increased their price objective 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. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.