Sullivan Bruyette Speros & Blaney LLC grew its position in shares of American Tower Corp (NYSE:AMT) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,183 shares of the real estate investment trust’s stock after buying an additional 203 shares during the quarter. Sullivan Bruyette Speros & Blaney LLC’s holdings in American Tower were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Securian Asset Management Inc raised its holdings in American Tower by 0.9% in the 2nd quarter. Securian Asset Management Inc now owns 46,658 shares of the real estate investment trust’s stock worth $9,539,000 after purchasing an additional 436 shares during the period. Gilbert & Cook Inc. bought a new position in American Tower in the 2nd quarter worth $237,000. Meeder Asset Management Inc. raised its holdings in American Tower by 56.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 20,258 shares of the real estate investment trust’s stock worth $4,141,000 after purchasing an additional 7,270 shares during the period. Usca Ria LLC bought a new position in American Tower in the 2nd quarter worth $379,000. Finally, Gabelli Funds LLC raised its holdings in American Tower by 8.2% in the 2nd quarter. Gabelli Funds LLC now owns 191,813 shares of the real estate investment trust’s stock worth $39,216,000 after purchasing an additional 14,600 shares during the period. 93.22% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on AMT shares. KeyCorp raised their target price on American Tower from $225.00 to $253.00 and gave the stock an “overweight” rating in a report on Monday. Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada increased their price target on American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Finally, Morgan Stanley increased their price target on American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. American Tower currently has a consensus rating of “Hold” and a consensus price target of $199.94.
AMT stock traded up $1.35 during trading on Tuesday, reaching $226.54. The company’s stock had a trading volume of 35,447 shares, compared to its average volume of 1,733,641. American Tower Corp has a 1 year low of $140.40 and a 1 year high of $225.69. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 4.13. The company has a market capitalization of $98.69 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 1.81 and a beta of 0.50. The company’s fifty day moving average is $212.28 and its 200-day moving average is $198.10.
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 Zacks’ consensus estimate of $1.87 by ($0.91). The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.74 EPS. Analysts anticipate that American Tower Corp will post 7.66 earnings per share for the current year.
In other news, CEO James D. Taiclet, Jr. sold 57,439 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $207.93, for a total transaction of $11,943,291.27. Following the completion of the transaction, the chief executive officer now owns 255,415 shares in the company, valued at $53,108,440.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $201.40, for a total value of $11,568,013.20. Following the transaction, the chief executive officer now owns 255,414 shares of the company’s stock, valued at approximately $51,440,379.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,020 shares of company stock valued at $39,584,998. Company insiders own 0.75% 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 approximately 171,000 communications sites.
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