Peoples Bank OH Invests $262,000 in American Tower Corp (AMT)

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.

AMT opened at $198.91 on Wednesday. American Tower Corp has a 12-month low of $134.87 and a 12-month high of $200.38. The company has a market capitalization of $87.03 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.61 and a beta of 0.66. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 4.31.

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.

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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.

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

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