Stock Yards Bank & Trust Co. reduced its stake in shares of American Tower Corp (NYSE:AMT) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 96,520 shares of the real estate investment trust’s stock after selling 841 shares during the period. American Tower accounts for approximately 1.5% of Stock Yards Bank & Trust Co.’s investment portfolio, making the stock its 23rd biggest position. Stock Yards Bank & Trust Co.’s holdings in American Tower were worth $13,771,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Howe & Rusling Inc. raised its position in shares of American Tower by 1,608.0% in the 3rd quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 804 shares in the last quarter. Legacy Advisors LLC bought a new position in shares of American Tower in the 3rd quarter worth about $132,000. Fieldpoint Private Securities LLC raised its position in shares of American Tower by 69.6% in the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 435 shares in the last quarter. Americafirst Capital Management LLC bought a new position in shares of American Tower in the 3rd quarter worth about $173,000. Finally, Laurel Wealth Advisors Inc. bought a new position in shares of American Tower in the 3rd quarter worth about $202,000. 91.61% of the stock is owned by hedge funds and other institutional investors.
In other American Tower news, Director David E. Sharbutt sold 1,584 shares of American Tower stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total transaction of $228,792.96. Following the completion of the transaction, the director now owns 4,861 shares in the company, valued at approximately $702,122.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Samme L. Thompson sold 5,000 shares of American Tower stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total value of $715,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 109,251 shares of company stock valued at $15,765,734 in the last quarter. Company insiders own 0.86% of the company’s stock.
American Tower Corp (NYSE:AMT) traded down $3.44 during mid-day trading on Thursday, reaching $137.61. The company’s stock had a trading volume of 3,330,500 shares, compared to its average volume of 2,042,086. The firm has a market cap of $58,650.00, a P/E ratio of 52.32, a P/E/G ratio of 1.46 and a beta of 0.73. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.42 and a quick ratio of 1.42. American Tower Corp has a fifty-two week low of $102.51 and a fifty-two week high of $155.28.
American Tower declared that its Board of Directors has authorized a share repurchase program on Thursday, December 7th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Thursday, December 28th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 2.03%. This is an increase from American Tower’s previous quarterly dividend of $0.66. American Tower’s payout ratio is 106.46%.
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American Tower Company Profile
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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