Centennial Bank AR Has $231,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Centennial Bank AR decreased its position in American Tower Co. (NYSE:AMT) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,190 shares of the real estate investment trust’s stock after selling 55 shares during the quarter. Centennial Bank AR’s holdings in American Tower were worth $231,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the 1st quarter worth about $25,000. Cultivar Capital Inc. bought a new position in shares of American Tower in the second quarter valued at approximately $25,000. Fairscale Capital LLC acquired a new stake in shares of American Tower in the second quarter worth $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of American Tower in the second quarter worth $29,000. Finally, SOA Wealth Advisors LLC. acquired a new position in American Tower during the 1st quarter valued at $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Down 0.2 %

Shares of NYSE:AMT opened at $232.01 on Wednesday. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $243.56. The company’s 50-day moving average price is $227.84 and its two-hundred day moving average price is $203.89. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a market cap of $108.37 billion, a P/E ratio of 52.49, a P/E/G ratio of 1.05 and a beta of 0.83.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the company earned $2.46 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that American Tower Co. will post 10.13 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Wednesday, October 9th. American Tower’s dividend payout ratio is currently 146.61%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Mizuho upped their target price on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, TD Cowen boosted their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.00.

Insiders Place Their Bets

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock valued at $7,795,397 in the last 90 days. 0.18% of the stock is currently owned by insiders.

American Tower Company 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.