Park National Corp OH Has $10.17 Million Stock Position in American Tower Corporation $AMT

Park National Corp OH reduced its stake in shares of American Tower Corporation (NYSE:AMT) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,000 shares of the real estate investment trust’s stock after selling 1,770 shares during the quarter. Park National Corp OH’s holdings in American Tower were worth $10,167,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC boosted its stake in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares in the last quarter. Quantinno Capital Management LP boosted its stake in American Tower by 82.4% in the fourth quarter. Quantinno Capital Management LP now owns 40,228 shares of the real estate investment trust’s stock valued at $7,378,000 after buying an additional 18,173 shares in the last quarter. ProShare Advisors LLC boosted its stake in American Tower by 2.0% in the fourth quarter. ProShare Advisors LLC now owns 120,000 shares of the real estate investment trust’s stock valued at $22,009,000 after buying an additional 2,366 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in American Tower in the fourth quarter valued at about $6,141,000. Finally, Royal Bank of Canada boosted its stake in American Tower by 1.2% in the fourth quarter. Royal Bank of Canada now owns 2,309,296 shares of the real estate investment trust’s stock valued at $423,548,000 after buying an additional 28,476 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by company insiders.

American Tower Price Performance

American Tower stock opened at $195.27 on Friday. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $241.97. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a market capitalization of $91.43 billion, a PE ratio of 71.01, a P/E/G ratio of 1.21 and a beta of 0.86. The stock has a 50-day moving average price of $210.83 and a two-hundred day moving average price of $213.37.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the company earned $2.79 earnings per share. The firm’s revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on AMT shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada increased their target price on American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their target price on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company dropped their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $244.73.

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.