Stock Yards Bank & Trust Co. Has $13.77 Million Position in American Tower Corp (AMT)

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.

Several brokerages have recently commented on AMT. Zacks Investment Research downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. KeyCorp set a $156.00 target price on American Tower and gave the company an “overweight” rating in a research note on Wednesday, November 1st. SunTrust Banks restated a “buy” rating on shares of American Tower in a research note on Wednesday, September 20th. Macquarie raised their target price on American Tower from $162.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, November 1st. Finally, ValuEngine upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $158.60.

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.

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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