Stock Yards Bank & Trust Co. Cuts Position in American Tower Co. (NYSE:AMT)

Stock Yards Bank & Trust Co. decreased its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 9.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,341 shares of the real estate investment trust's stock after selling 12,708 shares during the period. Stock Yards Bank & Trust Co.'s holdings in American Tower were worth $27,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Second Line Capital LLC lifted its holdings in American Tower by 1.2% during the third quarter. Second Line Capital LLC now owns 11,856 shares of the real estate investment trust's stock valued at $2,757,000 after purchasing an additional 138 shares in the last quarter. Rehmann Capital Advisory Group raised its position in shares of American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock worth $332,000 after purchasing an additional 58 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in American Tower by 16.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 8,553 shares of the real estate investment trust's stock valued at $1,989,000 after buying an additional 1,177 shares in the last quarter. Hobbs Group Advisors LLC boosted its holdings in American Tower by 51.0% in the 3rd quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust's stock worth $52,000 after buying an additional 75 shares during the last quarter. Finally, Chiron Investment Management LLC purchased a new stake in American Tower during the 3rd quarter worth approximately $8,815,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMT shares. Scotiabank decreased their target price on American Tower from $248.00 to $236.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, October 30th. Barclays decreased their price objective on American Tower from $255.00 to $251.00 and set an "overweight" rating on the stock in a report on Monday, November 18th. Mizuho upped their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Royal Bank of Canada increased their target price on shares of American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company lowered shares of American Tower from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, American Tower presently has a consensus rating of "Moderate Buy" and an average price target of $235.85.

American Tower Trading Down 0.9 %

Shares of NYSE AMT traded down $1.74 during midday trading on Thursday, reaching $197.85. 1,922,605 shares of the stock were exchanged, compared to its average volume of 2,323,956. The stock has a market capitalization of $92.45 billion, a P/E ratio of 84.40, a PEG ratio of 1.38 and a beta of 0.83. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a 50 day simple moving average of $211.56 and a 200 day simple moving average of $213.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business earned $2.58 EPS. American Tower's revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.28%. The ex-dividend date is Friday, December 27th. American Tower's dividend payout ratio (DPR) is presently 273.42%.

About American Tower

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.