Somerset Trust Co Has $985,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Somerset Trust Co boosted its position in shares of American Tower Co. (NYSE:AMTFree Report) by 1.7% in the first quarter, Holdings Channel.com reports. The firm owned 4,984 shares of the real estate investment trust’s stock after purchasing an additional 84 shares during the period. Somerset Trust Co’s holdings in American Tower were worth $985,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Gold Investment Management Ltd. bought a new position in American Tower during the fourth quarter valued at about $28,000. Thompson Investment Management Inc. bought a new position in shares of American Tower in the fourth quarter worth about $29,000. Private Wealth Management Group LLC bought a new position in shares of American Tower in the fourth quarter worth about $31,000. Valley National Advisers Inc. increased its stake in American Tower by 200.0% during the fourth quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 118 shares during the period. Finally, Security National Bank bought a new position in American Tower during the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMT. Barclays lowered their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $226.00 to $248.00 in a report on Wednesday, May 1st. Morgan Stanley lifted their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. decreased their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.91.

Get Our Latest Analysis on American Tower

Insider Buying and Selling at American Tower

In other American Tower news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares in the company, valued at approximately $1,345,422. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the sale, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

American Tower Trading Up 0.3 %

NYSE:AMT traded up $0.50 during trading hours on Wednesday, hitting $192.78. 2,407,868 shares of the stock were exchanged, compared to its average volume of 2,288,610. The company’s 50 day moving average is $185.24 and its two-hundred day moving average is $195.77. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. 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 company has a market capitalization of $90.02 billion, a P/E ratio of 43.61, a price-to-earnings-growth ratio of 1.37 and a beta of 0.79.

American Tower (NYSE:AMTGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the company posted $2.54 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that American Tower Co. will post 10.03 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s payout ratio is 146.61%.

About American Tower

(Free Report)

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.

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Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMTFree Report).

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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