American Tower Corp (NYSE:AMT) Shares Purchased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. boosted its position in American Tower Corp (NYSE:AMT) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,705 shares of the real estate investment trust’s stock after purchasing an additional 238 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in American Tower were worth $5,664,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in shares of American Tower by 5.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 75,512 shares of the real estate investment trust’s stock valued at $15,438,000 after acquiring an additional 3,774 shares during the period. Stock Yards Bank & Trust Co. lifted its position in shares of American Tower by 0.8% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 98,498 shares of the real estate investment trust’s stock valued at $20,138,000 after acquiring an additional 804 shares during the period. Autus Asset Management LLC increased its stake in shares of American Tower by 45.4% during the 2nd quarter. Autus Asset Management LLC now owns 7,391 shares of the real estate investment trust’s stock worth $1,511,000 after purchasing an additional 2,309 shares in the last quarter. Meridian Wealth Management LLC increased its stake in shares of American Tower by 56.3% during the 1st quarter. Meridian Wealth Management LLC now owns 4,133 shares of the real estate investment trust’s stock worth $814,000 after purchasing an additional 1,488 shares in the last quarter. Finally, Allstate Corp increased its stake in shares of American Tower by 1.4% during the 1st quarter. Allstate Corp now owns 37,744 shares of the real estate investment trust’s stock worth $7,438,000 after purchasing an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 94.11% of the company’s stock.

A number of brokerages have recently weighed in on AMT. Wells Fargo & Co cut shares of American Tower from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $190.00 to $196.00 in a research note on Monday, April 15th. They noted that the move was a valuation call. SunTrust Banks raised their price objective on shares of American Tower to $230.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp raised their price objective on shares of American Tower from $207.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. They noted that the move was a valuation call. Morgan Stanley raised their price objective on shares of American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. Finally, Royal Bank of Canada raised their price objective on shares of American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $193.38.

AMT stock traded up $4.30 during midday trading on Friday, hitting $215.71. The stock had a trading volume of 87,842 shares, compared to its average volume of 1,433,796. The company has a market cap of $93.36 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.71 and a beta of 0.49. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 4.31. American Tower Corp has a 12-month low of $140.40 and a 12-month high of $218.79. The business has a 50-day moving average price of $209.13.

American Tower (NYSE:AMT) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.91). The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.83 billion. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.74 earnings per share. On average, equities research analysts anticipate that American Tower Corp will post 7.52 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Wednesday, June 19th were paid a $0.92 dividend. This is a boost from American Tower’s previous quarterly dividend of $0.90. This represents a $3.68 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Tuesday, June 18th. American Tower’s payout ratio is presently 46.06%.

In other American Tower news, Director David E. Sharbutt sold 2,035 shares of American Tower stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $192.15, for a total value of $391,025.25. Following the completion of the sale, the director now directly owns 1,897 shares of the company’s stock, valued at approximately $364,508.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of American Tower stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $201.40, for a total transaction of $11,568,013.20. Following the completion of the sale, the chief executive officer now directly owns 255,414 shares of the company’s stock, valued at $51,440,379.60. The disclosure for this sale can be found here. Insiders sold a total of 190,614 shares of company stock valued at $38,600,596 over the last ninety days. 0.75% of the stock is owned by corporate insiders.

American Tower 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 approximately 171,000 communications sites.

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

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