LDR Capital Management LLC Lowers Position in American Tower Co. (NYSE:AMT)

LDR Capital Management LLC reduced its stake in American Tower Co. (NYSE:AMT) by 9.5% during the second quarter, HoldingsChannel.com reports. The fund owned 8,147 shares of the real estate investment trust’s stock after selling 852 shares during the quarter. American Tower comprises approximately 1.4% of LDR Capital Management LLC’s holdings, making the stock its 29th biggest position. LDR Capital Management LLC’s holdings in American Tower were worth $1,584,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of AMT. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the first quarter valued at $25,000. Cultivar Capital Inc. bought a new stake in shares of American Tower in the 2nd quarter worth about $25,000. Gold Investment Management Ltd. purchased a new stake in shares of American Tower during the 4th quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new position in shares of American Tower in the 2nd quarter valued at about $29,000. Finally, SOA Wealth Advisors LLC. purchased a new position in American Tower in the first quarter worth about $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.3 %

AMT traded up $0.73 during trading on Tuesday, hitting $226.04. The stock had a trading volume of 921,520 shares, compared to its average volume of 2,336,045. The stock has a 50 day simple moving average of $210.36 and a two-hundred day simple moving average of $196.99. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $236.13. The company has a market capitalization of $105.56 billion, a PE ratio of 51.17, a PEG ratio of 1.48 and a beta of 0.81.

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). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.46 earnings per share. On average, research analysts predict that American Tower Co. will post 10.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMT. Deutsche Bank Aktiengesellschaft raised their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $226.00 to $248.00 in a research note on Wednesday, May 1st. 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 report on Wednesday, July 31st. TD Cowen lifted their price target 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. Finally, The Goldman Sachs Group began coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and an average target price of $231.14.

Insider Buying and Selling

In related news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction 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 sale, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The disclosure for this sale can be found here. Insiders sold 37,227 shares of company stock worth $8,497,458 in the last three months. Corporate insiders own 0.18% of the company’s stock.

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.