Czech National Bank Has $21.69 Million Stock Position in American Tower Corporation $AMT

Czech National Bank grew its position in American Tower Corporation (NYSE:AMT) by 4.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,611 shares of the real estate investment trust’s stock after acquiring an additional 5,113 shares during the quarter. Czech National Bank’s holdings in American Tower were worth $21,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. J. Stern & Co. LLP raised its stake in shares of American Tower by 28,121.1% in the 4th quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after buying an additional 37,553,436 shares in the last quarter. State Street Corp increased its stake in American Tower by 0.3% in the fourth quarter. State Street Corp now owns 20,987,534 shares of the real estate investment trust’s stock valued at $3,719,634,000 after acquiring an additional 71,605 shares during the period. Geode Capital Management LLC increased its stake in American Tower by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 13,499,035 shares of the real estate investment trust’s stock valued at $2,361,675,000 after acquiring an additional 227,361 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in American Tower by 20,721.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after purchasing an additional 9,666,025 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in American Tower by 20.4% during the first quarter. Lazard Asset Management LLC now owns 7,325,943 shares of the real estate investment trust’s stock worth $1,264,311,000 after purchasing an additional 1,240,780 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Insider Activity

In other American Tower news, EVP Ruth T. Dowling sold 1,106 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total transaction of $193,505.76. Following the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at $4,848,316.56. This represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is owned by corporate insiders.

American Tower Stock Up 0.7%

Shares of AMT opened at $172.45 on Friday. The company has a market capitalization of $80.36 billion, a P/E ratio of 23.72, a PEG ratio of 2.72 and a beta of 0.90. American Tower Corporation has a one year low of $160.06 and a one year high of $214.79. The business’s 50 day simple moving average is $174.51 and its 200-day simple moving average is $178.20. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, June 12th. American Tower’s payout ratio is currently 98.49%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMT. Barclays lowered their price objective on American Tower from $200.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 16th. JPMorgan Chase & Co. cut their target price on American Tower from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. TD Cowen upped their price target on American Tower from $225.00 to $227.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded American Tower from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Finally, Truist Financial lifted their price objective on American Tower from $205.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $215.19.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.