Peoples Bank OH acquired a new position in shares of American Tower Corp (NYSE:AMT) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 1,327 shares of the real estate investment trust’s stock, valued at approximately $262,000.
Other large investors have also recently bought and sold shares of the company. Moors & Cabot Inc. bought a new position in shares of American Tower during the first quarter worth about $456,000. Cetera Investment Advisers grew its holdings in shares of American Tower by 14.7% during the fourth quarter. Cetera Investment Advisers now owns 2,312 shares of the real estate investment trust’s stock worth $362,000 after buying an additional 296 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in American Tower by 12.4% during the first quarter. Nisa Investment Advisors LLC now owns 205,747 shares of the real estate investment trust’s stock valued at $40,545,000 after purchasing an additional 22,765 shares during the last quarter. Ruggie Capital Group boosted its position in American Tower by 113.3% during the fourth quarter. Ruggie Capital Group now owns 546 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 290 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in American Tower by 3.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 20,035 shares of the real estate investment trust’s stock valued at $3,169,000 after purchasing an additional 585 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.
Several brokerages recently commented on AMT. Wells Fargo & Co cut American Tower from an “outperform” rating to a “market perform” rating and increased their price target for the company from $190.00 to $196.00 in a research report on Monday, April 15th. They noted that the move was a valuation call. SunTrust Banks increased their price target on American Tower to $210.00 and gave the company a “positive” rating in a research report on Monday, May 6th. Royal Bank of Canada increased their price target on American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. Bank of America increased their price target on American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, Edward Jones cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $180.44.
American Tower (NYSE:AMT) last released its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.04. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same period last year, the firm posted $0.63 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that American Tower Corp will post 7.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, April 11th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from American Tower’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, April 10th. American Tower’s dividend payout ratio (DPR) is presently 45.06%.
In related news, Chairman James D. Taiclet, Jr. sold 57,439 shares of American Tower stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $194.31, for a total transaction of $11,160,972.09. Following the completion of the sale, the chairman now directly owns 255,415 shares of the company’s stock, valued at approximately $49,629,688.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP William H. Hess sold 20,000 shares of American Tower stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $186.97, for a total value of $3,739,400.00. Following the sale, the executive vice president now directly owns 92,231 shares of the company’s stock, valued at $17,244,430.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,718 shares of company stock valued at $33,175,251. Insiders own 0.75% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was first posted by WKRB News and is owned by of WKRB News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.wkrb13.com/2019/05/15/peoples-bank-oh-invests-262000-in-american-tower-corp-amt.html.
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 approximately 171,000 communications sites.
Recommended Story: What is the Dividend Aristocrat Index?
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.