Gamco Investors INC. ET AL lifted its stake in shares of American Tower Corp (NYSE:AMT) by 5.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,750 shares of the real estate investment trust’s stock after buying an additional 894 shares during the quarter. Gamco Investors INC. ET AL’s holdings in American Tower were worth $3,833,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Qube Research & Technologies Ltd acquired a new position in American Tower in the second quarter valued at approximately $224,000. Spectrum Management Group Inc. boosted its holdings in American Tower by 636.6% in the second quarter. Spectrum Management Group Inc. now owns 1,068 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 923 shares in the last quarter. Clarius Group LLC boosted its holdings in American Tower by 53.6% in the second quarter. Clarius Group LLC now owns 3,423 shares of the real estate investment trust’s stock valued at $700,000 after purchasing an additional 1,195 shares in the last quarter. Penobscot Investment Management Company Inc. boosted its holdings in American Tower by 4.1% in the second quarter. Penobscot Investment Management Company Inc. now owns 11,190 shares of the real estate investment trust’s stock valued at $2,288,000 after purchasing an additional 440 shares in the last quarter. Finally, Employers Holdings Inc. acquired a new position in American Tower in the second quarter valued at approximately $429,000. 92.56% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on AMT shares. SunTrust Banks upped their price target on American Tower to $230.00 and gave the company a “buy” rating in a report on Thursday, August 1st. UBS Group downgraded American Tower from a “buy” rating to a “neutral” rating and upped their price target for the company from $195.00 to $222.00 in a report on Friday, June 7th. Morgan Stanley upped their price target on American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. Zacks Investment Research raised American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a report on Tuesday, August 20th. Finally, KeyCorp boosted their price objective on American Tower from $225.00 to $253.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $205.87.
Shares of NYSE AMT opened at $215.37 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. American Tower Corp has a twelve month low of $140.40 and a twelve month high of $242.00. The stock has a 50 day moving average of $222.10 and a two-hundred day moving average of $204.64. The stock has a market cap of $95.71 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.75 and a beta of 0.47.
American Tower (NYSE:AMT) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS 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 company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the company earned $1.74 EPS. American Tower’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts predict that American Tower Corp will post 7.67 earnings per share for the current year.
In other news, Director Pamela D. A. Reeve sold 4,167 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $240.80, for a total transaction of $1,003,413.60. Following the completion of the sale, the director now owns 19,139 shares in the company, valued at $4,608,671.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Olivier Puech sold 8,219 shares of the stock in a transaction 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 approximately $4,769,615.28. The disclosure for this sale can be found here. Insiders have sold 135,354 shares of company stock valued at $28,232,160 in the last 90 days. 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.
Read More: Lock-Up Period Expiration
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.