UNIVEST FINANCIAL Corp Increases Position in American Tower Co. (NYSE:AMT)

UNIVEST FINANCIAL Corp boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,789 shares of the real estate investment trust’s stock after purchasing an additional 754 shares during the quarter. American Tower makes up 1.6% of UNIVEST FINANCIAL Corp’s holdings, making the stock its 18th largest position. UNIVEST FINANCIAL Corp’s holdings in American Tower were worth $5,790,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fortis Capital Advisors LLC purchased a new stake in American Tower in the 4th quarter worth $220,000. Accretive Wealth Partners LLC increased its stake in shares of American Tower by 9.4% during the fourth quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock worth $958,000 after purchasing an additional 380 shares in the last quarter. Aveo Capital Partners LLC acquired a new position in shares of American Tower during the 4th quarter worth about $344,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in American Tower in the 4th quarter valued at about $215,000. Finally, Gryphon Financial Partners LLC lifted its stake in American Tower by 17.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 10,950 shares of the real estate investment trust’s stock valued at $2,472,000 after buying an additional 1,620 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMT has been the topic of several research reports. BMO Capital Markets restated an “outperform” rating and issued a $246.00 target price (up previously from $225.00) on shares of American Tower in a research report on Wednesday, July 31st. TD Cowen lifted their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Scotiabank boosted their price target on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada increased their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $231.14.

Insider Transactions at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock worth $7,795,397 over the last ninety days. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $236.23 on Friday. The business’s fifty day simple moving average is $216.56 and its 200-day simple moving average is $199.32. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a market cap of $110.34 billion, a PE ratio of 53.45, a price-to-earnings-growth ratio of 1.54 and a beta of 0.83. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $236.44.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $2.46 EPS. Equities analysts forecast that American Tower Co. will post 10.18 earnings per share for the current year.

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.