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 SEC. 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 institutional investors have also recently modified their holdings of the stock. Financial Architects Inc boosted its position in shares of 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 last quarter. Park National Corp OH purchased a new position in shares of American Tower Corp. during the second quarter valued at approximately $201,000. Boys Arnold & Co. Inc. purchased a new position in shares of American Tower Corp. during the second quarter valued at approximately $220,000. Union Bankshares Corp purchased a new position in shares of American Tower Corp. during the second quarter valued at approximately $221,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of American Tower Corp. during the first quarter valued at approximately $205,000. Institutional investors own 94.28% of the company’s stock.
American Tower Corp. (NYSE:AMT) traded down 0.50% on Tuesday, reaching $108.65. 1,396,803 shares of the company’s stock traded hands. The company 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. The firm’s 50 day moving average price is $113.79 and its 200 day moving average price is $108.78.
American Tower Corp. (NYSE:AMT) last issued its 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. American Tower Corp. had a return on equity of 11.73% and a net margin of 15.21%. The firm earned $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was up 22.8% compared to the same quarter last year. On average, equities analysts expect that American Tower Corp. will post $5.70 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.02%. This is an increase from American Tower Corp.’s previous quarterly dividend of $0.53. The ex-dividend date is Wednesday, September 28th. American Tower Corp.’s payout ratio is presently 131.68%.
Several equities analysts have recently commented on the stock. Jefferies Group restated a “buy” rating on shares of American Tower Corp. in a research report on Saturday, August 6th. Citigroup Inc. boosted their target price on shares of American Tower Corp. from $121.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, July 11th. Deutsche Bank AG restated a “buy” rating and issued a $117.00 target price on shares of American Tower Corp. in a research report on Tuesday, May 31st. Argus boosted their target price on shares of American Tower Corp. from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Finally, SunTrust Banks Inc. assumed coverage on shares of American Tower Corp. in a research report on Monday, September 12th. They issued a “buy” rating and a $128.00 target price for the company. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $120.59.
In related news, EVP Steven C. Marshall sold 100,000 shares of American Tower Corp. stock in a transaction on Monday, July 11th. The shares were sold at an average price of $113.33, for a total value of $11,333,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Edmund Disanto sold 20,000 shares of American Tower Corp. stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $113.50, for a total transaction of $2,270,000.00. Following the completion of the transaction, the executive vice president now directly owns 154,962 shares in the company, valued at $17,588,187. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by corporate insiders.
About American Tower Corp.
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.
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp. (NYSE:AMT).
Receive News & Ratings for American Tower Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower Corp. and related companies with MarketBeat.com's FREE daily email newsletter.