American Tower Co. (REIT) (NYSE:AMT) Shares Acquired by Nicolet Bankshares Inc.

Nicolet Bankshares Inc. increased its stake in American Tower Co. (REIT) (NYSE:AMT) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,312 shares of the real estate investment trust’s stock after purchasing an additional 323 shares during the quarter. Nicolet Bankshares Inc.’s holdings in American Tower were worth $1,435,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wagner Wealth Management LLC acquired a new stake in American Tower in the first quarter worth about $26,000. Harvest Fund Management Co. Ltd acquired a new stake in American Tower in the second quarter worth about $34,000. Allred Capital Management LLC bought a new stake in American Tower in the first quarter worth about $35,000. Sound Income Strategies LLC raised its position in American Tower by 116.4% in the second quarter. Sound Income Strategies LLC now owns 158 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 85 shares in the last quarter. Finally, Emerald Advisers LLC bought a new stake in American Tower in the second quarter worth about $47,000. 89.57% of the stock is owned by institutional investors and hedge funds.

In other American Tower news, Director Robert D. Hormats sold 100 shares of the company’s stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $272.87, for a total transaction of $27,287.00. Following the completion of the sale, the director now owns 6,640 shares of the company’s stock, valued at $1,811,856.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David E. Sharbutt sold 739 shares of the company’s stock in a transaction that occurred on Friday, September 3rd. The stock was sold at an average price of $300.71, for a total value of $222,224.69. The disclosure for this sale can be found here. In the last three months, insiders sold 9,085 shares of company stock valued at $2,552,330. 0.68% of the stock is currently owned by company insiders.

Several brokerages have commented on AMT. KeyCorp boosted their price target on shares of American Tower from $285.00 to $302.00 and gave the stock an “overweight” rating in a research report on Monday, July 19th. They noted that the move was a valuation call. Morgan Stanley boosted their price target on shares of American Tower from $270.00 to $316.00 and gave the stock an “equal weight” rating in a research report on Friday, September 10th. They noted that the move was a valuation call. Truist boosted their price target on shares of American Tower from $280.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Tower from $250.00 to $295.00 and gave the stock a “hold” rating in a research report on Thursday, July 8th. They noted that the move was a valuation call. Finally, Citigroup cut shares of American Tower from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 13th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $298.29.

Shares of NYSE AMT traded down $2.01 during trading hours on Monday, hitting $291.74. The stock had a trading volume of 34,373 shares, compared to its average volume of 1,843,521. The company has a market capitalization of $132.78 billion, a P/E ratio of 59.22, a P/E/G ratio of 2.07 and a beta of 0.24. The firm’s 50-day moving average price is $287.35 and its two-hundred day moving average price is $262.37. American Tower Co. has a 52 week low of $197.50 and a 52 week high of $303.72. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.77 and a current ratio of 0.77.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Wednesday, July 28th. The real estate investment trust reported $1.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.27 by ($0.62). American Tower had a net margin of 25.84% and a return on equity of 44.60%. As a group, analysts expect that American Tower Co. will post 9.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Tuesday, September 28th will be paid a $1.31 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, September 27th. This represents a $5.24 annualized dividend and a dividend yield of 1.80%. American Tower’s payout ratio is presently 60.19%.

American Tower Company Profile

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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

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