American Tower Co. (NYSE:AMT) Shares Bought by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,789 shares of the real estate investment trust’s stock after buying an additional 754 shares during the period. American Tower comprises 1.6% of UNIVEST FINANCIAL Corp’s investment portfolio, making the stock its 18th biggest holding. UNIVEST FINANCIAL Corp’s holdings in American Tower were worth $5,790,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Allstate Corp lifted its holdings in American Tower by 3.1% in the fourth quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after acquiring an additional 53 shares during the period. NBT Bank N A NY increased its holdings in shares of American Tower by 3.3% in the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after purchasing an additional 54 shares in the last quarter. Glassman Wealth Services lifted its stake in shares of American Tower by 4.7% in the fourth quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 56 shares during the period. CFO4Life Group LLC boosted its holdings in American Tower by 5.4% during the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 57 shares in the last quarter. Finally, Main Street Financial Solutions LLC grew its position in American Tower by 1.4% during the fourth quarter. Main Street Financial Solutions LLC now owns 4,265 shares of the real estate investment trust’s stock worth $921,000 after buying an additional 58 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMT has been the topic of several research analyst reports. Scotiabank boosted their price target on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. BMO Capital Markets reaffirmed an “outperform” rating and set a $246.00 price target (up previously from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. Royal Bank of Canada increased their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, Barclays cut their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $231.14.

American Tower Price Performance

Shares of NYSE:AMT opened at $236.23 on Friday. The company has a market cap of $110.34 billion, a P/E ratio of 53.45, a P/E/G ratio of 1.54 and a beta of 0.83. The business has a fifty day simple moving average of $216.56 and a 200-day simple moving average of $199.32. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $236.44. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 EPS. Equities research analysts forecast that American Tower Co. will post 10.18 EPS for the current year.

Insider Buying and Selling

In other American Tower 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 document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,723 shares of company stock valued at $7,795,397. Insiders own 0.18% of the company’s stock.

American Tower 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.