Czech National Bank Buys 6,163 Shares of American Tower Co. (NYSE:AMT)

Czech National Bank grew its stake in American Tower Co. (NYSE:AMT - Free Report) by 6.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,149 shares of the real estate investment trust's stock after purchasing an additional 6,163 shares during the quarter. Czech National Bank's holdings in American Tower were worth $22,128,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AMT. Trust Co. of Toledo NA OH boosted its holdings in American Tower by 6.3% during the third quarter. Trust Co. of Toledo NA OH now owns 7,846 shares of the real estate investment trust's stock worth $1,825,000 after purchasing an additional 464 shares during the last quarter. Jacobs & Co. CA lifted its position in shares of American Tower by 1.1% during the 3rd quarter. Jacobs & Co. CA now owns 23,245 shares of the real estate investment trust's stock worth $5,405,000 after buying an additional 264 shares in the last quarter. First Financial Bank Trust Division purchased a new position in shares of American Tower in the 3rd quarter worth approximately $2,299,000. Mattson Financial Services LLC bought a new position in shares of American Tower in the second quarter valued at approximately $1,189,000. Finally, Anchor Investment Management LLC increased its position in shares of American Tower by 3.3% during the second quarter. Anchor Investment Management LLC now owns 2,368 shares of the real estate investment trust's stock valued at $460,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AMT shares. StockNews.com raised American Tower from a "hold" rating to a "buy" rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. Mizuho raised their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. Royal Bank of Canada upped their price objective on American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group assumed coverage on American Tower in a research report on Monday, July 1st. They issued a "buy" rating and a $230.00 target price for the company. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $234.00.

American Tower Price Performance

NYSE:AMT traded down $5.64 during mid-day trading on Friday, hitting $223.64. 1,942,497 shares of the stock traded hands, compared to its average volume of 2,231,376. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $243.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The company has a market cap of $104.46 billion, a PE ratio of 50.60, a price-to-earnings-growth ratio of 1.06 and a beta of 0.83. The business's 50-day moving average price is $228.68 and its 200 day moving average price is $204.27.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the company posted $2.46 EPS. The company's revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts expect that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be given a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 2.90%. American Tower's dividend payout ratio (DPR) is presently 146.61%.

Insider Buying and Selling at American Tower

In other news, CEO Steven O. Vondran sold 21,537 shares of the company's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company's stock, valued at approximately $14,223,890. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now directly owns 51,746 shares of the company's stock, valued at $12,070,789.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock worth $7,795,397 over the last 90 days. Corporate insiders own 0.18% of the company's stock.

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.