Peoples Bank KS Takes $53,000 Position in American Tower Co. (NYSE:AMT)

Peoples Bank KS bought a new position in shares of American Tower Co. (NYSE:AMT) in the third quarter, Holdings Channel reports. The institutional investor bought 230 shares of the real estate investment trust’s stock, valued at approximately $53,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in American Tower during the first quarter worth about $25,000. Cultivar Capital Inc. bought a new stake in American Tower during the 2nd quarter worth approximately $25,000. Fairscale Capital LLC acquired a new stake in American Tower during the 2nd quarter valued at $27,000. Hobbs Group Advisors LLC bought a new position in American Tower in the 2nd quarter valued at $29,000. Finally, SOA Wealth Advisors LLC. acquired a new position in American Tower in the first quarter worth $30,000. 92.69% of the stock is owned by institutional investors.

American Tower Trading Down 2.5 %

Shares of AMT stock traded down $5.64 on Friday, hitting $223.64. The stock had a trading volume of 1,942,497 shares, compared to its average volume of 2,231,376. The firm has a market cap of $104.46 billion, a P/E ratio of 50.60, a PEG ratio of 1.06 and a beta of 0.83. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $243.56. 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 company has a fifty day moving average price of $228.68 and a two-hundred day moving average price of $204.27.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the company earned $2.46 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts forecast that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Wednesday, October 9th. American Tower’s payout ratio is currently 146.61%.

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 stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the transaction, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower 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 sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction on Friday, August 2nd. The stock was 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 owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock worth $7,795,397 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMT shares. Deutsche Bank Aktiengesellschaft lifted their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Scotiabank boosted their target price on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. BMO Capital Markets boosted their price objective on shares of American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. increased their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $234.00.

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.