Great Lakes Advisors LLC Lowers Stock Holdings in American Tower Co. (NYSE:AMT)

Great Lakes Advisors LLC lessened its position in American Tower Co. (NYSE:AMT) by 6.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 432,749 shares of the real estate investment trust’s stock after selling 27,907 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.09% of American Tower worth $84,118,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Meyer Handelman Co. purchased a new position in shares of American Tower in the first quarter valued at approximately $801,000. TD Asset Management Inc grew its stake in shares of American Tower by 23.2% in the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after acquiring an additional 51,882 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of American Tower by 13.8% during the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after acquiring an additional 4,660 shares during the period. Berkeley Capital Partners LLC raised its stake in shares of American Tower by 3.5% in the fourth quarter. Berkeley Capital Partners LLC now owns 3,895 shares of the real estate investment trust’s stock valued at $841,000 after acquiring an additional 130 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in shares of American Tower by 27.7% in the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after acquiring an additional 4,430 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, 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 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 filing with the SEC, which is accessible through the SEC website. In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by company insiders.

American Tower Stock Performance

AMT traded up $2.52 during trading on Friday, hitting $236.16. The 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 capitalization of $110.31 billion, a P/E ratio of 53.45, a PEG ratio of 1.54 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50-day moving average price is $216.56 and its 200 day moving average price is $199.32.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the business earned $2.46 EPS. American Tower’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that American Tower Co. will post 10.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their price target on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada raised their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Barclays lowered their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, Scotiabank boosted their target price on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Two investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.