Commerzbank Aktiengesellschaft FI Sells 18,074 Shares of American Tower Co. (NYSE:AMT)

Commerzbank Aktiengesellschaft FI lowered its position in American Tower Co. (NYSE:AMT - Free Report) by 55.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,752 shares of the real estate investment trust's stock after selling 18,074 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in American Tower were worth $3,431,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AMT. Northwest Investment Counselors LLC purchased a new stake in American Tower in the 1st quarter worth about $25,000. Cultivar Capital Inc. purchased a new stake in American Tower in the 2nd quarter worth about $25,000. Fairscale Capital LLC purchased a new stake in American Tower in the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC purchased a new stake in American Tower in the 2nd quarter worth about $29,000. Finally, Family Firm Inc. purchased a new stake in American Tower in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

NYSE:AMT traded up $4.81 during mid-day trading on Wednesday, reaching $226.27. The stock had a trading volume of 2,689,439 shares, compared to its average volume of 2,276,144. The firm has a 50 day moving average price of $228.58 and a two-hundred day moving average price of $207.19. The stock has a market capitalization of $105.66 billion, a P/E ratio of 51.19, a P/E/G ratio of 1.03 and a beta of 0.83. American Tower Co. has a one year low of $159.91 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data 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 net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts expect that American Tower Co. will post 10.12 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders 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 2.86%. American Tower's payout ratio is currently 146.61%.

Insider Buying and Selling at American Tower

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Steven O. Vondran sold 21,537 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on AMT. BMO Capital Markets lifted their target price on American Tower from $246.00 to $260.00 and gave the company an "outperform" rating in a report on Friday, September 13th. Royal Bank of Canada lifted their target price on American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a report on Thursday, August 15th. Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. StockNews.com raised American Tower from a "hold" rating to a "buy" rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price target on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $237.92.

American Tower Company 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.