Eqis Capital Management Inc. Decreases Stock Position in American Tower Co. (REIT) (NYSE:AMT)

Eqis Capital Management Inc. cut its stake in American Tower Co. (REIT) (NYSE:AMT) by 6.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,870 shares of the real estate investment trust’s stock after selling 137 shares during the period. Eqis Capital Management Inc.’s holdings in American Tower were worth $452,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AMT. BlackRock Inc. raised its position in shares of American Tower by 2.1% in the third quarter. BlackRock Inc. now owns 33,571,973 shares of the real estate investment trust’s stock valued at $8,115,354,000 after purchasing an additional 696,521 shares during the period. Wells Fargo & Company MN raised its position in shares of American Tower by 10.8% during the 3rd quarter. Wells Fargo & Company MN now owns 4,879,716 shares of the real estate investment trust’s stock worth $1,179,573,000 after purchasing an additional 476,541 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of American Tower by 9.1% during the 3rd quarter. Principal Financial Group Inc. now owns 3,973,274 shares of the real estate investment trust’s stock worth $960,460,000 after purchasing an additional 329,912 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of American Tower by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,965,267 shares of the real estate investment trust’s stock worth $1,025,181,000 after purchasing an additional 21,526 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of American Tower by 73.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,811,329 shares of the real estate investment trust’s stock worth $985,381,000 after purchasing an additional 1,619,316 shares during the last quarter. Institutional investors own 79.94% of the company’s stock.

AMT has been the subject of several analyst reports. Wells Fargo & Company cut their price target on American Tower from $290.00 to $285.00 and set an “overweight” rating for the company in a report on Wednesday, September 16th. Credit Suisse Group boosted their price target on American Tower from $300.00 to $301.00 and gave the company an “outperform” rating in a report on Tuesday, November 3rd. Morgan Stanley cut their price target on American Tower from $250.00 to $244.00 and set an “equal weight” rating for the company in a report on Tuesday, October 20th. Deutsche Bank Aktiengesellschaft cut their price target on American Tower from $300.00 to $295.00 and set a “buy” rating for the company in a report on Thursday, November 5th. Finally, Raymond James dropped their price objective on American Tower from $276.00 to $258.00 and set an “outperform” rating for the company in a report on Tuesday, November 3rd. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $276.67.

Shares of AMT stock opened at $232.66 on Friday. American Tower Co. has a 12-month low of $174.32 and a 12-month high of $272.20. The company has a market capitalization of $103.35 billion, a P/E ratio of 55.00, a P/E/G ratio of 1.84 and a beta of 0.31. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 5.73. The firm has a 50-day moving average price of $239.41 and a 200 day moving average price of $248.94.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, November 3rd. The real estate investment trust reported $1.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.06). The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.97 billion. American Tower had a return on equity of 42.42% and a net margin of 24.08%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 earnings per share. As a group, research analysts expect that American Tower Co. will post 8.16 earnings per share for the current year.

In related news, EVP Steven O. Vondran sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $248.44, for a total transaction of $372,660.00. Following the completion of the sale, the executive vice president now directly owns 23,724 shares of the company’s stock, valued at $5,893,990.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Amit Sharma sold 18,440 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $258.94, for a total transaction of $4,774,853.60. Following the sale, the executive vice president now directly owns 231,689 shares of the company’s stock, valued at $59,993,549.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,113 shares of company stock valued at $5,444,536. 0.65% of the stock is currently owned by insiders.

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 approximately 181,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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