American Tower Co. (NYSE:AMT) Shares Purchased by Czech National Bank

Czech National Bank increased its holdings in shares of American Tower Co. (NYSE:AMT) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,149 shares of the real estate investment trust’s stock after purchasing an additional 6,163 shares during the period. Czech National Bank’s holdings in American Tower were worth $22,128,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AMT. Northwest Investment Counselors LLC acquired a new stake in American Tower during the 1st quarter worth $25,000. Cultivar Capital Inc. acquired a new stake in shares of American Tower in the 2nd quarter worth $25,000. Fairscale Capital LLC purchased a new stake in shares of American Tower in the second quarter valued at about $27,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower during the second quarter worth about $29,000. Finally, SOA Wealth Advisors LLC. purchased a new position in American Tower during the first quarter worth about $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $229.43 on Friday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50 day moving average price is $228.68 and its 200 day moving average price is $204.27. The firm has a market cap of $107.14 billion, a P/E ratio of 51.91, a PEG ratio of 1.05 and a beta of 0.83. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business earned $2.46 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that American Tower Co. will post 10.13 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower’s payout ratio is 146.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AMT shares. Scotiabank lifted their price objective on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. 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 research note on Wednesday, August 14th. Mizuho increased their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Royal Bank of Canada boosted 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. Finally, Wells Fargo & Company increased their price target on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.00.

Insider Activity at American Tower

In related news, 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 transaction of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,723 shares of company stock valued at $7,795,397. Company insiders own 0.18% of the company’s stock.

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.