Bokf Na Buys 164 Shares of American Tower Co. (NYSE:AMT)

Bokf Na lifted its stake in American Tower Co. (NYSE:AMT) by 2.7% during the first quarter, HoldingsChannel reports. The firm owned 6,248 shares of the real estate investment trust’s stock after purchasing an additional 164 shares during the period. Bokf Na’s holdings in American Tower were worth $1,206,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Alera Investment Advisors LLC grew its holdings in shares of 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 last quarter. Allstate Corp grew its holdings in American Tower by 3.1% during the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock worth $378,000 after acquiring an additional 53 shares in the last quarter. Augustine Asset Management Inc. raised its stake in shares of American Tower by 0.8% during the 4th quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock worth $1,531,000 after acquiring an additional 56 shares in the last quarter. McIlrath & Eck LLC grew its stake in American Tower by 13.9% during the 4th quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 56 shares during the last quarter. Finally, Glassman Wealth Services grew its stake in shares of American Tower by 4.7% during the fourth quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock worth $268,000 after acquiring an additional 56 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMT. BMO Capital Markets dropped their price target on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley boosted their price target on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. The Goldman Sachs Group initiated coverage on American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. Scotiabank decreased their target price on American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a report on Wednesday, May 1st. Finally, Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They set a “neutral” rating and a $205.00 target price for the company. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $222.92.

American Tower Price Performance

Shares of AMT stock traded down $0.80 during trading hours on Monday, hitting $212.92. 288,361 shares of the company’s stock were exchanged, compared to its average volume of 2,301,825. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The firm has a market cap of $99.43 billion, a P/E ratio of 48.35, a P/E/G ratio of 1.50 and a beta of 0.81. The firm has a 50 day moving average of $197.59 and a two-hundred day moving average of $193.54. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.54 earnings per share. Sell-side analysts forecast that American Tower Co. will post 10.04 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 14th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Friday, June 14th. American Tower’s dividend payout ratio is currently 146.61%.

Insider Buying and Selling at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of the firm’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 sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Sanjay Goel sold 3,504 shares of the firm’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 sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was 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 in the company, valued at approximately $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

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.