Intrust Bank NA Has $846,000 Stock Position in American Tower Co. (NYSE:AMT)

Intrust Bank NA lessened its stake in American Tower Co. (NYSE:AMT) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,612 shares of the real estate investment trust’s stock after selling 440 shares during the quarter. Intrust Bank NA’s holdings in American Tower were worth $846,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. Roxbury Financial LLC acquired a new position in shares of American Tower in the 4th quarter valued at approximately $32,000. Graney & King LLC bought a new position in American Tower in the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC acquired a new position in American Tower during the third quarter valued at approximately $34,000. Crowley Wealth Management Inc. bought a new stake in American Tower during the fourth quarter worth $37,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of American Tower in the 4th quarter valued at $46,000. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $215.52 on Friday. The company has a market capitalization of $100.74 billion, a price-to-earnings ratio of 90.94, a PEG ratio of 1.29 and a beta of 0.85. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The stock has a fifty day simple moving average of $198.89 and a 200 day simple moving average of $204.58.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 earnings per share. Sell-side analysts expect that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a yield of 3.16%. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. Mizuho dropped their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company raised shares of American Tower from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $210.00 to $230.00 in a report on Monday, March 17th. Morgan Stanley reduced their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday, February 24th. The Goldman Sachs Group lowered their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, JMP Securities assumed coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, American Tower presently has an average rating of “Buy” and a consensus price target of $229.43.

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.