First Hawaiian Bank Purchases 60 Shares of American Tower Corp (NYSE:AMT)

First Hawaiian Bank boosted its holdings in shares of American Tower Corp (NYSE:AMT) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,936 shares of the real estate investment trust’s stock after buying an additional 60 shares during the quarter. First Hawaiian Bank’s holdings in American Tower were worth $1,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cable Hill Partners LLC boosted its holdings in shares of American Tower by 61.9% during the first quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 52 shares during the period. Reilly Financial Advisors LLC boosted its holdings in shares of American Tower by 15.3% during the first quarter. Reilly Financial Advisors LLC now owns 406 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 54 shares during the period. Webster Bank N. A. boosted its holdings in shares of American Tower by 4.9% during the first quarter. Webster Bank N. A. now owns 1,247 shares of the real estate investment trust’s stock worth $246,000 after acquiring an additional 58 shares during the period. Resources Investment Advisors Inc. boosted its holdings in shares of American Tower by 7.6% during the first quarter. Resources Investment Advisors Inc. now owns 820 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 58 shares during the period. Finally, Conning Inc. boosted its holdings in shares of American Tower by 0.6% during the first quarter. Conning Inc. now owns 10,652 shares of the real estate investment trust’s stock worth $2,099,000 after acquiring an additional 60 shares during the period. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

In other American Tower news, Director David E. Sharbutt sold 2,039 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $217.59, for a total transaction of $443,666.01. Following the completion of the transaction, the director now directly owns 3,936 shares in the company, valued at $856,434.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James D. Taiclet, Jr. sold 57,439 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $207.93, for a total transaction of $11,943,291.27. Following the transaction, the chief executive officer now owns 255,415 shares of the company’s stock, valued at $53,108,440.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,020 shares of company stock valued at $39,584,998. 0.75% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently issued reports on the company. SunTrust Banks boosted their price objective on American Tower to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Morgan Stanley boosted their price objective on American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a report on Monday, May 20th. KeyCorp boosted their price objective on American Tower from $207.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. They noted that the move was a valuation call. UBS Group cut American Tower from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $195.00 to $222.00 in a report on Friday, June 7th. Finally, Royal Bank of Canada boosted their price objective on American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $195.60.

Shares of AMT stock opened at $224.20 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 4.13. The stock has a market cap of $97.88 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 1.80 and a beta of 0.50. The stock has a 50 day simple moving average of $210.83 and a 200 day simple moving average of $197.58. American Tower Corp has a 1 year low of $140.40 and a 1 year high of $224.71.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.91). The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.83 billion. American Tower had a net margin of 19.30% and a return on equity of 24.75%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.74 earnings per share. Analysts forecast that American Tower Corp will post 7.66 EPS for the current year.

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 approximately 171,000 communications sites.

See Also: What is operating income?

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.