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

Key Points

• Park National Corp OH has reduced its stake in American Tower Corporation (AMT) by 3.7%, now holding $10.17 million worth of shares.
• American Tower's stock performance shows a 12-month high of $241.97 and a recent EPS of $2.60, surpassing analysts' expectations.
• Analysts have mixed ratings on American Tower, with a target price range showing potential upside, reflecting a consensus rating of "Moderate Buy."

Park National Corp OH decreased its position in American Tower Corporation (NYSE:AMT - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,000 shares of the real estate investment trust's stock after selling 1,770 shares during the period. Park National Corp OH's holdings in American Tower were worth $10,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. Nuveen LLC acquired a new stake in shares of American Tower in the 1st quarter worth approximately $991,525,000. Price T Rowe Associates Inc. MD lifted its stake in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock worth $1,772,144,000 after acquiring an additional 2,309,627 shares during the period. GAMMA Investing LLC lifted its stake in shares of American Tower by 23,627.3% in the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock worth $370,346,000 after acquiring an additional 1,694,784 shares during the period. Bessemer Group Inc. lifted its stake in shares of American Tower by 272.0% in the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust's stock worth $247,390,000 after acquiring an additional 831,247 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of American Tower in the 1st quarter worth approximately $162,127,000. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AMT. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. UBS Group increased their target price on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada increased their target price on shares of American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Two equities research 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.73.

American Tower Trading Up 1.1%

Shares of NYSE:AMT traded up $2.11 during mid-day trading on Tuesday, hitting $194.61. The stock had a trading volume of 3,253,754 shares, compared to its average volume of 2,780,560. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $91.13 billion, a PE ratio of 18.67, a P/E/G ratio of 1.19 and a beta of 0.86. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $241.46. The company's 50 day moving average is $210.27 and its 200-day moving average is $213.42.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm's quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company's stock.

About American Tower

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.