Raiffeisen Bank International AG Grows Stock Holdings in American Tower Corporation (NYSE:AMT)

Key Points

• Raiffeisen Bank International AG increased its stake in American Tower Corporation by 19.0%, now owning 40,191 shares valued at approximately $8.67 million.
• Other institutional investors, including Cohen & Steers Inc. and Capital Research Global Investors, also boosted their holdings significantly, demonstrating strong institutional interest in the company.
• American Tower's most recent quarterly earnings reported an EPS of $2.60, surpassing analyst estimates, despite a 9.4% decline in year-over-year revenue.

Raiffeisen Bank International AG raised its stake in American Tower Corporation (NYSE:AMT - Free Report) by 19.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,191 shares of the real estate investment trust's stock after acquiring an additional 6,427 shares during the period. Raiffeisen Bank International AG's holdings in American Tower were worth $8,665,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. North Capital Inc. purchased a new stake in American Tower in the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. increased its stake in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 60 shares during the period. Minot DeBlois Advisors LLC purchased a new stake in American Tower in the fourth quarter worth $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower in the first quarter worth about $31,000. Finally, Lowe Wealth Advisors LLC boosted its position in shares of American Tower by 218.0% during the first 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 in the last quarter. Institutional investors own 92.69% of the company's stock.

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer owned 23,425 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Company insiders own 0.17% of the company's stock.

American Tower Stock Up 0.5%

Shares of American Tower stock traded up $1.07 on Thursday, hitting $209.97. 1,992,920 shares of the company's stock traded hands, compared to its average volume of 2,614,871. The stock has a market cap of $98.29 billion, a P/E ratio of 76.35, a PEG ratio of 1.16 and a beta of 0.82. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $243.56. The firm's 50-day moving average is $218.61 and its 200 day moving average is $210.81. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

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

American Tower Announces Dividend

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

Analyst Ratings Changes

AMT has been the subject of several research reports. Royal Bank Of Canada lifted their price objective 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 lifted their price objective on shares of American Tower from $234.00 to $248.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Wells Fargo & Company dropped their price target on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. JMP Securities upped their price target on American Tower from $248.00 to $260.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 30th. Finally, UBS Group upped their price objective 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. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $243.88.

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.