OLD Second National Bank of Aurora Has $70,000 Stock Position in American Tower Co. (NYSE:AMT)

OLD Second National Bank of Aurora reduced its stake in American Tower Co. (NYSE:AMT) by 21.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 356 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. OLD Second National Bank of Aurora’s holdings in American Tower were worth $70,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AMT. Integrated Wealth Concepts LLC grew its holdings in American Tower by 5.9% during the third quarter. Integrated Wealth Concepts LLC now owns 9,617 shares of the real estate investment trust’s stock worth $1,582,000 after buying an additional 537 shares in the last quarter. Silver Oak Securities Incorporated bought a new stake in American Tower during the third quarter worth $117,000. Public Sector Pension Investment Board grew its holdings in American Tower by 6.0% during the third quarter. Public Sector Pension Investment Board now owns 94,954 shares of the real estate investment trust’s stock worth $15,615,000 after buying an additional 5,407 shares in the last quarter. Bar Harbor Wealth Management grew its holdings in American Tower by 5.8% during the third quarter. Bar Harbor Wealth Management now owns 21,839 shares of the real estate investment trust’s stock worth $3,591,000 after buying an additional 1,203 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in American Tower by 5.6% in the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after purchasing an additional 691,934 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the sale, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the sale, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMT shares. BMO Capital Markets cut their price objective on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Morgan Stanley boosted their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Scotiabank cut their price objective on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, Barclays dropped their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $221.67.

American Tower Trading Up 2.1 %

AMT stock traded up $4.35 during midday trading on Friday, hitting $211.55. The company had a trading volume of 1,201,341 shares, compared to its average volume of 2,362,836. The stock’s 50 day moving average price is $192.22 and its 200 day moving average price is $194.20. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $219.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39. The stock has a market cap of $98.79 billion, a price-to-earnings ratio of 46.88, a PEG ratio of 1.40 and a beta of 0.81.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the prior year, the company earned $2.54 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts expect that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, June 14th. American Tower’s payout ratio is currently 146.61%.

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.