First American Trust FSB Acquires 134 Shares of American Tower Corp (AMT)

First American Trust FSB grew its stake in American Tower Corp (NYSE:AMT) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,652 shares of the real estate investment trust’s stock after purchasing an additional 134 shares during the quarter. First American Trust FSB’s holdings in American Tower were worth $1,527,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in American Tower by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 56,635,438 shares of the real estate investment trust’s stock worth $8,229,130,000 after acquiring an additional 3,579,249 shares during the last quarter. Vanguard Group Inc raised its stake in American Tower by 6.7% during the 3rd quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after purchasing an additional 3,579,249 shares during the period. Edgewood Management LLC increased its position in shares of American Tower by 16.7% during the 3rd quarter. Edgewood Management LLC now owns 7,967,144 shares of the real estate investment trust’s stock valued at $1,157,626,000 after purchasing an additional 1,139,504 shares during the last quarter. Resolution Capital Ltd lifted its holdings in shares of American Tower by 291.1% in the 3rd quarter. Resolution Capital Ltd now owns 1,522,702 shares of the real estate investment trust’s stock worth $187,429,000 after buying an additional 1,133,323 shares during the period. Finally, FMR LLC increased its position in American Tower by 6.7% during the 3rd quarter. FMR LLC now owns 15,195,387 shares of the real estate investment trust’s stock valued at $2,207,889,000 after buying an additional 951,620 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director David E. Sharbutt sold 813 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $160.88, for a total transaction of $130,795.44. Following the completion of the sale, the director now owns 3,968 shares of the company’s stock, valued at $638,371.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas A. Bartlett sold 93,338 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $165.00, for a total value of $15,400,770.00. Following the completion of the sale, the chief financial officer now directly owns 133,660 shares of the company’s stock, valued at approximately $22,053,900. The disclosure for this sale can be found here. Insiders sold 370,823 shares of company stock worth $59,320,913 over the last three months. Insiders own 0.87% of the company’s stock.

A number of research firms have recently commented on AMT. Zacks Investment Research cut American Tower from a “hold” rating to a “sell” rating in a research 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. Citigroup lowered shares of American Tower from a “buy” rating to a “neutral” rating and boosted their price target for the company from $161.00 to $176.00 in a research report on Wednesday, October 31st. KeyCorp increased their target price on shares of American Tower from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, October 31st. Finally, Bank of America set a $172.00 price target on shares of American Tower and gave the company a “buy” rating in a research note on Wednesday, October 31st. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $166.33.

AMT stock traded down $0.46 during trading on Friday, hitting $161.40. The company had a trading volume of 157,543 shares, compared to its average volume of 2,042,326. The stock has a market capitalization of $70.34 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 3.11. American Tower Corp has a 1-year low of $130.37 and a 1-year high of $168.58.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. American Tower had a net margin of 17.07% and a return on equity of 18.55%. American Tower’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.73 earnings per share. Analysts expect that American Tower Corp will post 7.58 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Investors of record on Thursday, December 27th will be issued a dividend of $0.84 per share. This is a boost 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 annualized dividend and a yield of 2.08%. American Tower’s dividend payout ratio is presently 52.66%.

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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 170,000 communications sites.

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

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