American Tower Co. (NYSE:AMT) Shares Bought by Torray Investment Partners LLC

Torray Investment Partners LLC grew its holdings in American Tower Co. (NYSE:AMT) by 0.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,234 shares of the real estate investment trust’s stock after acquiring an additional 385 shares during the period. American Tower comprises approximately 1.4% of Torray Investment Partners LLC’s portfolio, making the stock its 29th largest position. Torray Investment Partners LLC’s holdings in American Tower were worth $9,181,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Mine & Arao Wealth Creation & Management LLC. increased its holdings in American Tower by 3.6% during the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 2,516 shares of the real estate investment trust’s stock worth $489,000 after purchasing an additional 87 shares during the period. Patron Partners LLC grew its position in shares of American Tower by 10.7% during the second quarter. Patron Partners LLC now owns 3,241 shares of the real estate investment trust’s stock worth $630,000 after buying an additional 312 shares in the last quarter. UNIVEST FINANCIAL Corp raised its holdings in American Tower by 2.6% in the second quarter. UNIVEST FINANCIAL Corp now owns 29,789 shares of the real estate investment trust’s stock valued at $5,790,000 after acquiring an additional 754 shares in the last quarter. Candriam S.C.A. lifted its stake in American Tower by 22.9% in the second quarter. Candriam S.C.A. now owns 43,912 shares of the real estate investment trust’s stock worth $8,535,000 after acquiring an additional 8,186 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in American Tower by 6.9% during the 2nd quarter. Private Advisor Group LLC now owns 88,731 shares of the real estate investment trust’s stock worth $17,230,000 after acquiring an additional 5,710 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were 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 in the company, valued at approximately $14,223,890. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock worth $7,795,397 over the last 90 days. 0.18% of the stock is currently owned by insiders.

American Tower Stock Performance

NYSE AMT traded up $2.52 during trading on Friday, reaching $236.16. The company’s stock had a trading volume of 2,749,994 shares, compared to its average volume of 2,325,473. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $236.44. The firm has a market cap of $110.31 billion, a price-to-earnings ratio of 53.45, a P/E/G ratio of 1.54 and a beta of 0.83. The business’s fifty day moving average price is $216.56 and its 200-day moving average price is $199.32. 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 (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. As a group, analysts anticipate that American Tower Co. will post 10.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AMT shares. Wells Fargo & Company raised their price objective on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. The Goldman Sachs Group initiated coverage on American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.14.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.