American Tower Co. (NYSE:AMT) Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI boosted its position in shares of American Tower Co. (NYSE:AMT) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,936 shares of the real estate investment trust’s stock after acquiring an additional 359 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in American Tower were worth $4,520,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Personal Capital Advisors Corp lifted its holdings in American Tower by 1.7% in the first quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock worth $631,000 after purchasing an additional 43 shares during the period. Lumature Wealth Partners LLC lifted its holdings in American Tower by 40.3% in the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 50 shares during the period. Alera Investment Advisors LLC lifted its holdings in American Tower by 1.3% in the fourth quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after purchasing an additional 51 shares during the period. McIlrath & Eck LLC lifted its holdings in American Tower by 18.5% in the fourth quarter. McIlrath & Eck LLC now owns 333 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 52 shares during the period. Finally, Golden State Equity Partners lifted its holdings in American Tower by 7.0% in the first quarter. Golden State Equity Partners now owns 806 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMT. Barclays raised their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. decreased their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Mizuho began coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Finally, Morgan Stanley raised their target price on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.36.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Pamela D. A. Reeve sold 5,054 shares of American Tower stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock traded up $0.30 during midday trading on Friday, hitting $171.30. The company had a trading volume of 2,867,595 shares, compared to its average volume of 2,507,582. The business’s 50 day simple moving average is $191.91 and its two-hundred day simple moving average is $193.74. The stock has a market cap of $79.89 billion, a PE ratio of 53.87, a P/E/G ratio of 1.35 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.34 EPS. As a group, equities analysts predict that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.78%. American Tower’s dividend payout ratio is currently 203.77%.

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.