Bahl & Gaynor Inc. Sells 818 Shares of American Tower Co. (NYSE:AMT)

Bahl & Gaynor Inc. trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 9.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,904 shares of the real estate investment trust’s stock after selling 818 shares during the quarter. Bahl & Gaynor Inc.’s holdings in American Tower were worth $1,536,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. LPL Financial LLC boosted its holdings in shares of American Tower by 1.5% in the second quarter. LPL Financial LLC now owns 340,456 shares of the real estate investment trust’s stock valued at $66,178,000 after buying an additional 4,941 shares during the period. Biltmore Family Office LLC boosted its stake in American Tower by 6.9% in the 2nd quarter. Biltmore Family Office LLC now owns 1,163 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 75 shares during the period. AGF Management Ltd. increased its holdings in American Tower by 3.5% during the 2nd quarter. AGF Management Ltd. now owns 112,323 shares of the real estate investment trust’s stock worth $21,833,000 after purchasing an additional 3,771 shares in the last quarter. Angeles Wealth Management LLC acquired a new stake in shares of American Tower in the 2nd quarter valued at about $299,000. Finally, Carson Advisory Inc. bought a new stake in shares of American Tower in the second quarter valued at about $235,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMT. Deutsche Bank Aktiengesellschaft increased their price objective on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Scotiabank lifted their price objective on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. TD Cowen lifted their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets restated an “outperform” rating and set a $246.00 price objective (up from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $231.14.

Insider Transactions at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was 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 of the company’s stock, valued at approximately $14,223,890. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’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 transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,723 shares of company stock worth $7,795,397. Company insiders own 0.18% of the company’s stock.

American Tower Trading Down 1.6 %

Shares of American Tower stock opened at $238.97 on Thursday. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $243.56. The company has a market capitalization of $111.62 billion, a price-to-earnings ratio of 54.07, a P/E/G ratio of 1.57 and a beta of 0.83. The business has a fifty day simple moving average of $219.34 and a two-hundred day simple moving average of $200.47. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81.

American Tower (NYSE:AMT) last announced its quarterly earnings results 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). The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $2.46 EPS. Research analysts forecast that American Tower Co. will post 10.18 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.