American Tower Co. (NYSE:AMT) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. decreased its position in shares of American Tower Co. (NYSE:AMT) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,255 shares of the real estate investment trust’s stock after selling 8,285 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in American Tower were worth $22,686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC grew its stake in shares of American Tower by 7.2% during the 1st quarter. CVA Family Office LLC now owns 1,052 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 71 shares during the period. Everhart Financial Group Inc. grew its stake in shares of American Tower by 19.5% during the 1st quarter. Everhart Financial Group Inc. now owns 2,049 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 334 shares during the period. Relyea Zuckerberg Hanson LLC acquired a new stake in shares of American Tower during the 1st quarter worth approximately $293,000. Quintet Private Bank Europe S.A. grew its stake in shares of American Tower by 3.9% during the 1st quarter. Quintet Private Bank Europe S.A. now owns 143,978 shares of the real estate investment trust’s stock worth $31,330,000 after purchasing an additional 5,440 shares during the period. Finally, RMR Wealth Builders grew its stake in shares of American Tower by 14.0% during the 1st quarter. RMR Wealth Builders now owns 10,256 shares of the real estate investment trust’s stock worth $2,232,000 after purchasing an additional 1,258 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JMP Securities lifted their price target on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research note on Wednesday, April 30th. Citigroup lifted their price target on shares of American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Bank of America assumed coverage on shares of American Tower in a research note on Monday, May 19th. They issued a “buy” rating and a $255.00 price target on the stock. Raymond James lifted their price target on shares of American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, UBS Group lifted their price target on shares of American Tower from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Buy” and a consensus price target of $240.25.

American Tower Trading Down 1.4%

Shares of AMT stock opened at $214.76 on Friday. The company’s 50-day moving average price is $214.91 and its 200-day moving average price is $203.13. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $100.54 billion, a price-to-earnings ratio of 90.62, a PEG ratio of 1.29 and a beta of 0.81. American Tower Co. has a twelve month low of $172.51 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.34. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.54 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.79 EPS. As a group, equities analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, June 13th. American Tower’s dividend payout ratio (DPR) is presently 174.81%.

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.