American Tower Co. (NYSE:AMT) Stock Position Boosted by Park Place Capital Corp

Park Place Capital Corp boosted its stake in American Tower Co. (NYSE:AMT) by 26.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,164 shares of the real estate investment trust’s stock after acquiring an additional 1,273 shares during the quarter. Park Place Capital Corp’s holdings in American Tower were worth $1,131,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Balentine LLC bought a new position in shares of American Tower during the 3rd quarter valued at about $586,000. Nordea Investment Management AB boosted its position in shares of American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after purchasing an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of American Tower during the 3rd quarter valued at about $1,156,000. Czech National Bank boosted its position in shares of American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 6,163 shares in the last quarter. Finally, Brookstone Capital Management boosted its position in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays decreased their target price on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, January 13th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Mizuho reduced their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Scotiabank reduced their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.67.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of AMT opened at $186.14 on Wednesday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm’s 50 day moving average price is $192.68 and its 200 day moving average price is $211.47. The firm has a market cap of $86.98 billion, a PE ratio of 79.02, a PEG ratio of 1.28 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $2.58 EPS. As a group, research analysts expect that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.48%. American Tower’s payout ratio is 273.42%.

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.