United Capital Financial Advisers LLC lowered its stake in shares of American Tower Corp (NYSE:AMT) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 168,976 shares of the real estate investment trust’s stock after selling 636 shares during the quarter. United Capital Financial Advisers LLC’s holdings in American Tower were worth $34,547,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Nelson Roberts Investment Advisors LLC acquired a new position in American Tower in the second quarter valued at about $27,000. Cable Hill Partners LLC increased its position in American Tower by 61.9% during the first quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 52 shares during the last quarter. Next Capital Management LLC acquired a new position in American Tower during the second quarter worth approximately $31,000. CX Institutional increased its position in American Tower by 54.9% during the second quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 56 shares during the last quarter. Finally, Litman Gregory Asset Management LLC acquired a new position in American Tower during the second quarter worth approximately $33,000. Institutional investors and hedge funds own 92.56% of the company’s stock.
In other American Tower 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 transaction, the executive vice president now directly owns 23,288 shares of the company’s stock, valued at approximately $4,769,615.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David E. Sharbutt sold 2,039 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $217.59, for a total value of $443,666.01. Following the completion of the transaction, the director now directly owns 3,936 shares in the company, valued at $856,434.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,354 shares of company stock worth $28,232,160. Corporate insiders own 0.75% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a report on Monday, May 20th. KeyCorp raised their price target on shares of American Tower from $225.00 to $253.00 and gave the company an “overweight” rating in a report on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. UBS Group downgraded shares of American Tower from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $195.00 to $222.00 in a report on Friday, June 7th. Finally, SunTrust Banks lifted their price objective on shares of American Tower to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Ten equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. American Tower currently has a consensus rating of “Hold” and an average target price of $205.87.
Shares of NYSE:AMT traded down $4.26 during midday trading on Friday, reaching $214.59. 84,702 shares of the company were exchanged, compared to its average volume of 1,690,541. American Tower Corp has a one year low of $140.40 and a one year high of $242.00. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 4.13. The business’s fifty day moving average is $221.91 and its two-hundred day moving average is $204.45. The stock has a market cap of $95.71 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.75 and a beta of 0.47.
American Tower (NYSE:AMT) last posted 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 during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the business earned $1.74 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts expect that American Tower Corp will post 7.67 EPS for the current year.
American Tower 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 approximately 171,000 communications sites.
Further Reading: Mutual Funds
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