Park National Corp OH Has $8.92 Million Holdings in American Tower Co. (NYSE:AMT)

Park National Corp OH raised its stake in American Tower Co. (NYSE:AMT) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,622 shares of the real estate investment trust’s stock after buying an additional 2,564 shares during the quarter. Park National Corp OH’s holdings in American Tower were worth $8,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its stake in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new stake in American Tower in the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in American Tower in the third quarter worth $30,000. Hara Capital LLC bought a new position in shares of American Tower during the third quarter worth $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the 3rd quarter valued at $34,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. The Goldman Sachs Group dropped their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Scotiabank reduced their price objective on 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. BMO Capital Markets dropped their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded 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. 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.08.

American Tower Stock Performance

Shares of AMT stock opened at $177.26 on Wednesday. The company has a fifty day moving average price of $197.12 and a two-hundred day moving average price of $212.27. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The stock has a market cap of $82.83 billion, a P/E ratio of 74.79, a P/E/G ratio of 1.31 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last issued its 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 firm 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 for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $2.58 earnings per share. As a group, equities analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is presently 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.