Trust Co. of Toledo NA OH Acquires 464 Shares of American Tower Co. (NYSE:AMT)

Trust Co. of Toledo NA OH raised its holdings in shares of American Tower Co. (NYSE:AMT) by 6.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,846 shares of the real estate investment trust’s stock after buying an additional 464 shares during the period. Trust Co. of Toledo NA OH’s holdings in American Tower were worth $1,825,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Jacobs & Co. CA grew its stake in shares of American Tower by 1.1% in the third quarter. Jacobs & Co. CA now owns 23,245 shares of the real estate investment trust’s stock valued at $5,405,000 after buying an additional 264 shares in the last quarter. First Financial Bank Trust Division bought a new position in American Tower during the third quarter worth $2,299,000. Mattson Financial Services LLC bought a new position in American Tower during the second quarter worth $1,189,000. Anchor Investment Management LLC boosted its position in American Tower by 3.3% during the second quarter. Anchor Investment Management LLC now owns 2,368 shares of the real estate investment trust’s stock worth $460,000 after purchasing an additional 76 shares during the period. Finally, Heritage Wealth Management Inc. bought a new position in American Tower during the second quarter worth $549,000. 92.69% of the stock is owned by institutional investors.

Insider Transactions at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,723 shares of company stock worth $7,795,397. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $231.94 on Thursday. The stock has a market cap of $108.31 billion, a P/E ratio of 52.48, a price-to-earnings-growth ratio of 1.05 and a beta of 0.83. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The stock’s 50-day moving average is $228.29 and its 200-day moving average is $204.09. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is currently 146.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. TD Cowen boosted their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price target on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Mizuho boosted their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.00.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.