American Tower Co. (NYSE:AMT) Shares Bought by Graypoint LLC

Graypoint LLC boosted its stake in shares of American Tower Co. (NYSE:AMT) by 8.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,299 shares of the real estate investment trust’s stock after purchasing an additional 256 shares during the period. Graypoint LLC’s holdings in American Tower were worth $641,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AMT. Northwest Investment Counselors LLC purchased a new position in American Tower during the first quarter valued at approximately $25,000. Gold Investment Management Ltd. purchased a new stake in shares of American Tower during the 4th quarter worth about $28,000. Cultivar Capital Inc. acquired a new stake in shares of American Tower during the 2nd quarter valued at about $25,000. Private Wealth Management Group LLC purchased a new position in shares of American Tower in the 4th quarter valued at about $31,000. Finally, Hobbs Group Advisors LLC acquired a new position in American Tower in the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMT. Barclays cut their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and set a $246.00 price objective (up from $225.00) on shares of American Tower in a report on Wednesday, July 31st. Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company raised their price target on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $231.14.

Insiders Place Their Bets

In other 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 owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The disclosure for this sale can be found here. Insiders sold a total of 37,227 shares of company stock valued at $8,497,458 over the last quarter. 0.18% of the stock is owned by insiders.

American Tower Price Performance

Shares of American Tower stock traded up $0.54 on Friday, hitting $224.06. 1,796,764 shares of the company were exchanged, compared to its average volume of 2,367,787. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $236.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The stock has a market capitalization of $104.65 billion, a price-to-earnings ratio of 50.69, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81. The company has a 50-day moving average price of $212.85 and a 200 day moving average price of $197.88.

American Tower (NYSE:AMT) last issued its 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 firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $2.46 earnings per share. As a group, sell-side analysts predict that American Tower Co. will post 10.05 earnings per share for the current fiscal year.

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