American Tower Corporation (NYSE:AMT) Shares Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. boosted its holdings in American Tower Corporation (NYSE:AMT) by 4.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,097,030 shares of the real estate investment trust’s stock after acquiring an additional 43,398 shares during the period. Raymond James Financial Inc.’s holdings in American Tower were worth $238,713,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC lifted its stake in American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 69 shares in the last quarter. Shum Financial Group Inc. lifted its stake in American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock worth $913,000 after purchasing an additional 141 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its stake in American Tower by 13.3% during the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 231,913 shares of the real estate investment trust’s stock worth $50,487,000 after purchasing an additional 27,194 shares in the last quarter. Georgetown University lifted its stake in American Tower by 128.2% during the fourth quarter. Georgetown University now owns 45,654 shares of the real estate investment trust’s stock worth $8,373,000 after purchasing an additional 25,651 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. lifted its stake in American Tower by 35.3% during the first quarter. Adams Diversified Equity Fund Inc. now owns 91,200 shares of the real estate investment trust’s stock worth $19,845,000 after purchasing an additional 23,800 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

NYSE:AMT opened at $206.20 on Friday. The firm has a market capitalization of $96.55 billion, a PE ratio of 74.98, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. The business’s fifty day moving average price is $217.44 and its 200 day moving average price is $211.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%. American Tower’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.79 earnings per share. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on AMT. Raymond James Financial set a $250.00 price target on American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Wells Fargo & Company decreased their price target on American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Bank of America assumed coverage on American Tower in a research note on Monday, May 19th. They set a “buy” rating and a $255.00 price target on the stock. Barclays upped their price objective on American Tower from $223.00 to $246.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price objective on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $244.47.

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