Carson Advisory Inc. Invests $235,000 in American Tower Co. (NYSE:AMT)

Carson Advisory Inc. acquired a new stake in shares of American Tower Co. (NYSE:AMT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,209 shares of the real estate investment trust’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the first quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in American Tower in the 2nd quarter valued at approximately $25,000. Gold Investment Management Ltd. acquired a new stake in American Tower during the 4th quarter worth approximately $28,000. Hobbs Group Advisors LLC bought a new stake in American Tower during the 2nd quarter worth approximately $29,000. Finally, SOA Wealth Advisors LLC. acquired a new position in American Tower in the 1st quarter valued at approximately $30,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMT shares. TD Cowen boosted their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. Finally, BMO Capital Markets restated an “outperform” rating and issued a $246.00 price target (up previously from $225.00) on shares of American Tower in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $231.14.

American Tower Stock Up 1.8 %

American Tower stock opened at $242.82 on Wednesday. The company has a market capitalization of $113.42 billion, a PE ratio of 54.94, a PEG ratio of 1.57 and a beta of 0.83. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $243.56. The firm’s fifty day moving average is $218.46 and its 200 day moving average is $200.20. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the company posted $2.46 EPS. American Tower’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, sell-side analysts predict that American Tower Co. will post 10.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, 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. Corporate insiders own 0.18% of the company’s stock.

About American Tower

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.