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Deutsche Bank AG Buys 285,195 Shares of American Tower Corporation (NYSE:AMT)

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Key Points

  • Deutsche Bank AG increased its stake in American Tower Corporation by 4.0%, holding approximately 7.38 million shares valued at $1.61 billion, making it the bank's 21st largest investment.
  • American Tower recently declared a quarterly dividend of $1.70, with a high annualized yield of 3.3%, despite a dividend payout ratio of 247.27%.
  • Research analysts have issued varied ratings on American Tower, with target prices ranging from $230.00 to $260.00, reflecting a general consensus rating of "Moderate Buy."
  • Need Better Tools to Track American Tower? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Deutsche Bank AG grew its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,383,368 shares of the real estate investment trust's stock after purchasing an additional 285,195 shares during the period. American Tower comprises 0.6% of Deutsche Bank AG's holdings, making the stock its 21st largest holding. Deutsche Bank AG owned 1.58% of American Tower worth $1,606,621,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMT. North Capital Inc. bought a new stake in shares of American Tower during the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. lifted its stake in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in American Tower in the 1st quarter valued at approximately $31,000. Lowe Wealth Advisors LLC lifted its stake in American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 109 shares during the last quarter. Finally, Minot DeBlois Advisors LLC bought a new position in American Tower in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on AMT shares. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. UBS Group raised their price target on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada raised their price target on shares of American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Scotiabank raised their price target on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, American Tower has an average rating of "Moderate Buy" and a consensus target price of $243.88.

Get Our Latest Stock Analysis on AMT

American Tower Stock Down 1.7%

Shares of NYSE AMT traded down $3.50 during mid-day trading on Friday, reaching $206.51. 1,727,522 shares of the company's stock traded hands, compared to its average volume of 2,116,492. The stock has a market cap of $96.70 billion, a P/E ratio of 75.09, a PEG ratio of 1.18 and a beta of 0.82. The business has a 50-day simple moving average of $218.37 and a 200 day simple moving average of $211.24. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the firm earned $2.79 earnings per share. The firm's revenue was down 9.4% on a year-over-year basis. On average, analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's dividend payout ratio (DPR) is presently 247.27%.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by insiders.

American Tower Profile

(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.

Further Reading

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

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