American Tower Co. (NYSE:AMT) Shares Acquired by Park Place Capital Corp

Park Place Capital Corp increased its stake in American Tower Co. (NYSE:AMT) by 126.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,092 shares of the real estate investment trust’s stock after acquiring an additional 1,169 shares during the period. Park Place Capital Corp’s holdings in American Tower were worth $413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Claro Advisors LLC increased its position in shares of American Tower by 16.5% in the 1st quarter. Claro Advisors LLC now owns 1,241 shares of the real estate investment trust’s stock valued at $245,000 after purchasing an additional 176 shares during the last quarter. Miracle Mile Advisors LLC lifted its holdings in American Tower by 20.4% during the 1st quarter. Miracle Mile Advisors LLC now owns 3,909 shares of the real estate investment trust’s stock worth $772,000 after buying an additional 661 shares during the last quarter. Oak Asset Management LLC boosted its position in shares of American Tower by 8.0% during the 1st quarter. Oak Asset Management LLC now owns 12,961 shares of the real estate investment trust’s stock worth $2,561,000 after acquiring an additional 955 shares in the last quarter. Roberts Wealth Advisors LLC raised its position in shares of American Tower by 4.3% during the 1st quarter. Roberts Wealth Advisors LLC now owns 23,868 shares of the real estate investment trust’s stock worth $4,716,000 after acquiring an additional 986 shares in the last quarter. Finally, Red Door Wealth Management LLC lifted its stake in American Tower by 9.2% during the first quarter. Red Door Wealth Management LLC now owns 14,239 shares of the real estate investment trust’s stock worth $2,814,000 after purchasing an additional 1,199 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Tower

In other news, Director Robert D. Hormats sold 700 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the firm’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 completion of the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley increased their price target on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Mizuho initiated coverage on shares of American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of American Tower in a research note on Monday. They issued a “buy” rating and a $230.00 price objective for the company. Barclays cut their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $221.67.

American Tower Trading Down 0.2 %

NYSE:AMT opened at $194.05 on Tuesday. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39. The stock’s 50 day simple moving average is $188.22 and its 200-day simple moving average is $194.95. The firm has a market cap of $90.62 billion, a P/E ratio of 43.90, a PEG ratio of 1.39 and a beta of 0.81.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the firm posted $2.54 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts anticipate that American Tower Co. will post 10.03 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $6.48 annualized dividend and a yield of 3.34%. American Tower’s dividend payout ratio is currently 146.61%.

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.