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

Park Place Capital Corp increased its holdings in shares of American Tower Co. (NYSE:AMT) by 26.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,164 shares of the real estate investment trust’s stock after purchasing an additional 1,273 shares during the period. Park Place Capital Corp’s holdings in American Tower were worth $1,131,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Profund Advisors LLC lifted its stake in shares of American Tower by 2.9% in the 2nd quarter. Profund Advisors LLC now owns 7,426 shares of the real estate investment trust’s stock worth $1,443,000 after acquiring an additional 212 shares during the period. Frank Rimerman Advisors LLC increased its holdings in American Tower by 17,200.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 3,633 shares of the real estate investment trust’s stock valued at $706,000 after acquiring an additional 3,612 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of American Tower by 17.7% in the second quarter. Public Sector Pension Investment Board now owns 64,886 shares of the real estate investment trust’s stock valued at $12,613,000 after buying an additional 9,751 shares during the last quarter. Bank of Montreal Can raised its position in shares of American Tower by 12.8% in the second quarter. Bank of Montreal Can now owns 954,016 shares of the real estate investment trust’s stock valued at $185,623,000 after buying an additional 108,355 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of American Tower in the second quarter valued at approximately $89,752,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT stock opened at $186.14 on Wednesday. The company has a market capitalization of $86.98 billion, a PE ratio of 79.02, a price-to-earnings-growth ratio of 1.28 and a beta of 0.84. The firm has a fifty day simple moving average of $192.68 and a 200-day simple moving average of $211.47. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company had revenue of $2.52 billion during 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 was down 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.58 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AMT. Mizuho dropped 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. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Scotiabank dropped 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. Finally, Barclays dropped their price target on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $230.67.

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.