Alexandria Capital LLC lessened its holdings in shares of American Tower Corp (NYSE:AMT) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,735 shares of the real estate investment trust’s stock after selling 364 shares during the period. American Tower accounts for approximately 1.0% of Alexandria Capital LLC’s holdings, making the stock its 28th biggest position. Alexandria Capital LLC’s holdings in American Tower were worth $6,897,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in AMT. Nelson Roberts Investment Advisors LLC bought a new stake in shares of American Tower during the 2nd quarter worth $27,000. Cable Hill Partners LLC boosted its holdings in American Tower by 61.9% in the 1st quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 52 shares during the period. Next Capital Management LLC bought a new stake in American Tower in the 2nd quarter valued at $31,000. CX Institutional boosted its holdings in American Tower by 54.9% in the 2nd quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 56 shares during the period. Finally, Litman Gregory Asset Management LLC bought a new position in shares of American Tower during the 2nd quarter worth about $33,000. 92.56% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. KeyCorp raised their price objective on shares of American Tower from $225.00 to $253.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. SunTrust Banks increased their target price on shares of American Tower to $230.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley raised their price objective on shares of American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a research report on Monday, May 20th. Citigroup raised their target price on shares of American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, UBS Group lowered shares of American Tower from a “buy” rating to a “neutral” rating and raised their target price for the company from $195.00 to $222.00 in a research note on Friday, June 7th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $205.87.
Shares of American Tower stock traded down $2.47 during trading on Friday, reaching $216.38. The company’s stock had a trading volume of 389,920 shares, compared to its average volume of 1,690,541. American Tower Corp has a 52 week low of $140.40 and a 52 week high of $242.00. The business’s 50-day moving average price is $221.91 and its 200-day moving average price is $204.45. 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 firm has a market cap of $95.71 billion, a PE ratio of 27.08, a P/E/G ratio of 1.75 and a beta of 0.47.
American Tower (NYSE:AMT) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.91). American Tower had a return on equity of 24.75% and a net margin of 19.30%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the company earned $1.74 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts predict that American Tower Corp will post 7.67 earnings per share for the current year.
In other news, EVP Olivier Puech sold 8,219 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $204.81, for a total value of $1,683,333.39. Following the completion of the transaction, the executive vice president now owns 23,288 shares of the company’s stock, valued at $4,769,615.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly 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 three months, insiders have sold 135,354 shares of company stock valued at $28,232,160. 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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