Intrust Bank NA Has $846,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Intrust Bank NA lowered its stake in shares of American Tower Co. (NYSE:AMT) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,612 shares of the real estate investment trust’s stock after selling 440 shares during the period. Intrust Bank NA’s holdings in American Tower were worth $846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AMT. Partners Group Holding AG raised its stake in American Tower by 8.3% during the 4th quarter. Partners Group Holding AG now owns 378,592 shares of the real estate investment trust’s stock worth $69,438,000 after buying an additional 28,988 shares during the period. Nordea Investment Management AB lifted its holdings in shares of American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after purchasing an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of American Tower in the 3rd quarter worth $1,156,000. TigerOak Management L.L.C. acquired a new stake in American Tower in the 4th quarter valued at $1,102,000. Finally, Brookstone Capital Management increased its stake in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent research reports. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Barclays boosted their price objective on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, BMO Capital Markets upped their price target on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $229.43.

American Tower Trading Up 0.7 %

NYSE AMT opened at $215.52 on Friday. The stock has a market capitalization of $100.74 billion, a price-to-earnings ratio of 90.94, a PEG ratio of 1.29 and a beta of 0.85. The business’s fifty day moving average is $198.89 and its 200-day moving average is $204.58. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the company earned $2.29 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, April 11th. American Tower’s dividend payout ratio (DPR) is currently 141.37%.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

About American Tower

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.