Park National Corp OH lifted its stake in American Tower Corp (NYSE:AMT) by 10.4% in the second quarter, HoldingsChannel reports. The firm owned 33,595 shares of the real estate investment trust’s stock after purchasing an additional 3,153 shares during the period. Park National Corp OH’s holdings in American Tower were worth $6,869,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of American Tower by 2.1% during the 1st quarter. BlackRock Inc. now owns 30,336,022 shares of the real estate investment trust’s stock worth $5,978,017,000 after purchasing an additional 610,821 shares in the last quarter. FMR LLC raised its stake in shares of American Tower by 13.3% in the 1st quarter. FMR LLC now owns 22,818,504 shares of the real estate investment trust’s stock valued at $4,496,615,000 after acquiring an additional 2,673,794 shares in the last quarter. Akre Capital Management LLC raised its stake in shares of American Tower by 1.7% in the 1st quarter. Akre Capital Management LLC now owns 7,186,828 shares of the real estate investment trust’s stock valued at $1,416,236,000 after acquiring an additional 119,400 shares in the last quarter. Northern Trust Corp raised its stake in shares of American Tower by 1.9% in the 1st quarter. Northern Trust Corp now owns 6,675,953 shares of the real estate investment trust’s stock valued at $1,315,564,000 after acquiring an additional 123,697 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of American Tower by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,557,968 shares of the real estate investment trust’s stock valued at $1,037,413,000 after acquiring an additional 144,064 shares in the last quarter. Institutional investors and hedge funds own 94.43% of the company’s stock.
Shares of NYSE:AMT traded up $0.10 during trading on Tuesday, hitting $206.80. 974,084 shares of the stock were exchanged, compared to its average volume of 1,771,320. American Tower Corp has a 1-year low of $138.51 and a 1-year high of $218.79. The stock has a market capitalization of $91.14 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 1.68 and a beta of 0.49. The company has a fifty day moving average price of $209.89. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 4.31.
American Tower (NYSE:AMT) last announced its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $0.04. American Tower had a return on equity of 22.61% and a net margin of 17.95%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm earned $0.63 EPS. American Tower’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, analysts forecast that American Tower Corp will post 7.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, June 19th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, June 18th. This is a positive change from American Tower’s previous quarterly dividend of $0.90. American Tower’s dividend payout ratio (DPR) is presently 46.06%.
A number of research analysts recently weighed in on AMT shares. Wells Fargo & Co raised their price objective on Sempra Energy from $137.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Morgan Stanley raised their price objective on United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. UBS Group reissued a “buy” rating on shares of Fortis in a research note on Friday, June 7th. KeyCorp raised their price objective on SBA Communications from $215.00 to $252.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. They noted that the move was a valuation call. Finally, SunTrust Banks reaffirmed a “hold” rating on shares of Tripadvisor in a research report on Monday, May 6th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $188.44.
In related news, EVP Olivier Puech sold 8,219 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $204.81, for a total value of $1,683,333.39. Following the sale, the executive vice president now owns 23,288 shares of the company’s stock, valued at approximately $4,769,615.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David E. Sharbutt sold 2,035 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $192.15, for a total value of $391,025.25. Following the completion of the sale, the director now directly owns 1,897 shares in the company, valued at approximately $364,508.55. The disclosure for this sale can be found here. Insiders have sold a total of 248,053 shares of company stock worth $49,761,568 in the last three months. 0.75% of the stock is 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 approximately 171,000 communications sites.
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