Bank of The West Has $9.62 Million Stake in American Tower Corporation (REIT) (AMT)

Bank of The West lowered its position in American Tower Corporation (REIT) (NYSE:AMT) by 13.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,734 shares of the real estate investment trust’s stock after selling 11,492 shares during the period. American Tower Corporation (REIT) makes up 1.2% of Bank of The West’s holdings, making the stock its 15th largest position. Bank of The West’s holdings in American Tower Corporation (REIT) were worth $9,624,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Heritage Trust Co purchased a new position in shares of American Tower Corporation (REIT) during the first quarter worth approximately $122,000. Webster Bank N. A. raised its position in shares of American Tower Corporation (REIT) by 86.1% in the first quarter. Webster Bank N. A. now owns 1,005 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 465 shares during the last quarter. Norway Savings Bank raised its position in shares of American Tower Corporation (REIT) by 85.2% in the first quarter. Norway Savings Bank now owns 1,435 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 660 shares during the last quarter. Integrated Investment Consultants LLC raised its position in shares of American Tower Corporation (REIT) by 0.9% in the first quarter. Integrated Investment Consultants LLC now owns 1,485 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 13 shares during the last quarter. Finally, Park National Corp OH purchased a new position in shares of American Tower Corporation (REIT) during the second quarter worth approximately $210,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

Shares of American Tower Corporation (AMT) opened at 136.68 on Friday. The firm has a market cap of $58.66 billion, a P/E ratio of 54.67 and a beta of 0.71. American Tower Corporation has a 52 week low of $99.72 and a 52 week high of $139.50. The company’s 50-day moving average price is $135.15 and its 200 day moving average price is $123.95.

American Tower Corporation (REIT) (NYSE:AMT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by $0.75. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. American Tower Corporation (REIT)’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.38 EPS. On average, equities analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 19th were issued a $0.64 dividend. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $2.56 annualized dividend and a yield of 1.87%. American Tower Corporation (REIT)’s payout ratio is presently 102.81%.

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A number of research analysts have commented on the company. Argus increased their price objective on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research report on Thursday, August 3rd. BidaskClub upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Deutsche Bank AG increased their price objective on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $150.00 price objective on shares of American Tower Corporation (REIT) in a research report on Thursday, July 6th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. American Tower Corporation (REIT) has a consensus rating of “Buy” and an average target price of $142.67.

In related news, Director David E. Sharbutt sold 3,653 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $128.61, for a total value of $469,812.33. Following the transaction, the director now owns 10,098 shares in the company, valued at $1,298,703.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total transaction of $2,772,336.16. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

About American Tower Corporation (REIT)

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 Corporation (REIT) (NYSE:AMT)

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