Heritage Trust Co Has $5.46 Million Stock Position in American Tower Corporation (NYSE:AMT)

Key Points

• Heritage Trust Co reduced its stake in American Tower Corporation by 4.5% to 25,095 shares, valued at $5.46 million as of the latest SEC filing.
• American Tower reported a quarterly earnings per share (EPS) of $2.60, slightly exceeding analyst estimates, despite a 9.4% year-over-year revenue decline.
• The company declared a $1.70 quarterly dividend, resulting in a 3.2% yield, despite having a high dividend payout ratio of 247.27%.

Heritage Trust Co decreased its stake in American Tower Corporation (NYSE:AMT - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,095 shares of the real estate investment trust's stock after selling 1,192 shares during the period. Heritage Trust Co's holdings in American Tower were worth $5,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. North Capital Inc. acquired a new stake in shares of American Tower in the first quarter worth $25,000. Hopwood Financial Services Inc. grew its stake in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in shares of American Tower in the fourth quarter worth $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower in the first quarter worth $31,000. Finally, Lowe Wealth Advisors LLC grew its stake in shares of American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 109 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Up 1.8%

Shares of NYSE:AMT opened at $212.18 on Friday. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.81 and a current ratio of 0.95. The company's fifty day moving average is $218.73 and its 200-day moving average is $210.53. The company has a market capitalization of $99.33 billion, a PE ratio of 77.16, a P/E/G ratio of 1.17 and a beta of 0.82.

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

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Friday, June 13th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 13th. American Tower's dividend payout ratio (DPR) is presently 247.27%.

Wall Street Analyst Weigh In

AMT has been the topic of several research analyst reports. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a research note on Tuesday. Barclays lifted their price target on shares of American Tower from $223.00 to $246.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company decreased their price target on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday. UBS Group lifted their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, HSBC downgraded shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target on the stock. in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $243.88.

Insiders Place Their Bets

In other American Tower 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 value of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company's stock.

American Tower 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.

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