American Tower Corp. (AMT) Position Held by Huntington National Bank
Huntington National Bank maintained its position in shares of American Tower Corp. (NYSE:AMT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,335 shares of the real estate investment trust’s stock at the end of the second quarter. Huntington National Bank’s holdings in American Tower Corp. were worth $5,022,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of AMT. Capital Analysts LLC increased its position in shares of American Tower Corp. by 158.1% in the second quarter. Capital Analysts LLC now owns 2,395 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 1,467 shares during the last quarter. Financial Architects Inc boosted its stake in American Tower Corp. by 15.5% in the second quarter. Financial Architects Inc now owns 1,289 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 173 shares during the period. Park National Corp OH bought a new stake in American Tower Corp. during the second quarter valued at $201,000. Schonfeld Strategic Advisors LLC bought a new stake in American Tower Corp. during the first quarter valued at $205,000. Finally, Boys Arnold & Co. Inc. bought a new stake in American Tower Corp. during the second quarter valued at $220,000. 94.28% of the stock is currently owned by institutional investors.
American Tower Corp. (NYSE:AMT) traded down 0.50% during midday trading on Tuesday, hitting $108.65. 1,396,803 shares of the stock traded hands. The company has a 50-day moving average of $113.79 and a 200-day moving average of $108.78. The stock has a market cap of $46.23 billion, a PE ratio of 67.44 and a beta of 0.57. American Tower Corp. has a 12 month low of $83.07 and a 12 month high of $118.26.
American Tower Corp. (NYSE:AMT) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.33 EPS for the quarter, missing the consensus estimate of $1.36 by $0.03. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. American Tower Corp. had a net margin of 15.21% and a return on equity of 11.73%. The business’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 EPS. On average, equities research analysts anticipate that American Tower Corp. will post $5.70 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $2.20 annualized dividend and a dividend yield of 2.02%. This is a positive change from American Tower Corp.’s previous quarterly dividend of $0.53. American Tower Corp.’s dividend payout ratio (DPR) is currently 131.68%.
Several analysts recently weighed in on the stock. SunTrust Banks Inc. assumed coverage on shares of American Tower Corp. in a report on Monday, September 12th. They issued a “buy” rating and a $128.00 price target on the stock. Jefferies Group reiterated a “buy” rating on shares of American Tower Corp. in a report on Monday, September 12th. Argus lifted their price target on shares of American Tower Corp. from $120.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Citigroup Inc. cut their price target on shares of American Tower Corp. from $134.00 to $133.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Finally, BTIG Research lifted their price target on shares of American Tower Corp. to $140.00 in a report on Tuesday, July 19th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $120.59.
In related news, EVP Steven C. Marshall sold 100,000 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $113.33, for a total transaction of $11,333,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Edmund Disanto sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $113.50, for a total value of $2,270,000.00. Following the sale, the executive vice president now directly owns 154,962 shares in the company, valued at approximately $17,588,187. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
American Tower Corp. Company Profile
American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.
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