American Tower Co. (NYSE:AMT) Shares Purchased by Park National Corp OH

Park National Corp OH grew its stake in shares of American Tower Co. (NYSE:AMT) by 0.5% in the 2nd quarter, Holdings Channel reports. The firm owned 51,140 shares of the real estate investment trust’s stock after acquiring an additional 267 shares during the quarter. Park National Corp OH’s holdings in American Tower were worth $9,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in American Tower during the 4th quarter valued at about $1,051,898,000. Wellington Management Group LLP raised its stake in American Tower by 21.9% during the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after acquiring an additional 2,839,570 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of American Tower by 36.2% in the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after purchasing an additional 2,336,501 shares in the last quarter. Edgewood Management LLC increased its holdings in shares of American Tower by 46.2% during the fourth quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock valued at $1,076,352,000 after purchasing an additional 1,576,683 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of American Tower by 41.0% during the fourth quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock valued at $1,144,014,000 after purchasing an additional 1,541,029 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Tower

In other news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction 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 transaction, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,227 shares of company stock valued at $8,497,458. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Up 1.3 %

NYSE AMT traded up $2.91 during trading on Monday, reaching $225.50. 1,455,651 shares of the company’s stock were exchanged, compared to its average volume of 2,303,634. The firm has a market capitalization of $105.32 billion, a PE ratio of 51.02, a P/E/G ratio of 1.56 and a beta of 0.81. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $236.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The company’s fifty day simple moving average is $204.69 and its 200-day simple moving average is $194.93.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (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 during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the company earned $2.46 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that American Tower Co. will post 10.04 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 14th were issued a dividend of $1.62 per share. The ex-dividend date was Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 2.87%. American Tower’s dividend payout ratio is 146.61%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMT. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $226.00 to $248.00 in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on shares of American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group began coverage on shares of American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.42.

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.