First American Trust FSB Acquires 134 Shares of American Tower Corp (AMT)
First American Trust FSB increased its holdings in shares of American Tower Corp (NYSE:AMT) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,652 shares of the real estate investment trust’s stock after acquiring an additional 134 shares during the quarter. First American Trust FSB’s holdings in American Tower were worth $1,527,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of AMT. Moody National Bank Trust Division acquired a new stake in American Tower during the 4th quarter worth approximately $44,000. Mount Yale Investment Advisors LLC boosted its position in American Tower by 354.4% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 560 shares during the period. TLP Group LLC acquired a new stake in American Tower during the 3rd quarter worth approximately $113,000. Point72 Hong Kong Ltd acquired a new stake in American Tower during the 3rd quarter worth approximately $142,000. Finally, Ancora Advisors LLC acquired a new stake in American Tower during the 3rd quarter worth approximately $157,000. Institutional investors and hedge funds own 93.15% of the company’s stock.
In other news, Director Samme L. Thompson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $157.11, for a total transaction of $314,220.00. Following the completion of the transaction, the director now directly owns 20,625 shares in the company, valued at $3,240,393.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Robert Joseph Meyer, Jr. sold 44,959 shares of the firm’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $156.43, for a total value of $7,032,936.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 370,823 shares of company stock valued at $59,320,913. 0.87% of the stock is owned by corporate insiders.
American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.76 billion. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 earnings per share. On average, analysts predict that American Tower Corp will post 7.58 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Thursday, December 27th will be issued a $0.84 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Wednesday, December 26th. This represents a $3.36 dividend on an annualized basis and a yield of 2.08%. American Tower’s dividend payout ratio is 52.66%.
Several research analysts have issued reports on AMT shares. Moffett Nathanson lowered shares of American Tower from a “buy” rating to a “neutral” rating and set a $164.00 price target for the company. in a report on Monday, December 3rd. Morgan Stanley lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and set a $170.00 price target for the company. in a report on Wednesday, December 12th. Zacks Investment Research lowered shares of American Tower from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. ValuEngine upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Finally, Wells Fargo & Co raised their price target on shares of American Tower from $173.00 to $176.00 and gave the stock an “outperform” rating in a report on Friday, November 16th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. American Tower has an average rating of “Buy” and an average price target of $166.33.
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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 170,000 communications sites.
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