Wealthstreet Investment Advisors LLC Buys Shares of 17,055 American Tower Corp (NYSE:AMT)

Wealthstreet Investment Advisors LLC purchased a new position in shares of American Tower Corp (NYSE:AMT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 17,055 shares of the real estate investment trust’s stock, valued at approximately $2,433,000.

A number of other large investors also recently bought and sold shares of the business. Howe & Rusling Inc. increased its stake in American Tower by 1,608.0% during the 3rd quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 804 shares during the period. Legacy Advisors LLC purchased a new stake in American Tower during the 3rd quarter worth $132,000. Fieldpoint Private Securities LLC increased its stake in American Tower by 69.6% during the 3rd quarter. Fieldpoint Private Securities LLC now owns 1,060 shares of the real estate investment trust’s stock worth $145,000 after buying an additional 435 shares during the period. Americafirst Capital Management LLC purchased a new stake in American Tower during the 3rd quarter worth $173,000. Finally, Resources Investment Advisors Inc. increased its stake in American Tower by 51.1% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,428 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 483 shares during the period. 92.19% of the stock is currently owned by institutional investors.

American Tower Corp (NYSE:AMT) traded up $3.80 during midday trading on Monday, hitting $140.02. 3,024,700 shares of the company were exchanged, compared to its average volume of 2,874,264. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.42 and a quick ratio of 1.42. American Tower Corp has a twelve month low of $107.66 and a twelve month high of $155.28. The company has a market cap of $60,050.00, a P/E ratio of 53.24, a P/E/G ratio of 1.33 and a beta of 0.77.

American Tower announced that its board has approved a stock buyback program on Thursday, December 7th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Several research firms recently issued reports on AMT. Zacks Investment Research downgraded shares of American Tower from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Oppenheimer raised their price objective on shares of American Tower from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. Morgan Stanley reissued an “overweight” rating and set a $172.00 price objective on shares of American Tower in a report on Wednesday, December 13th. ValuEngine lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $177.00 price target (up from $156.00) on shares of American Tower in a report on Monday, November 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $158.60.

In other American Tower news, Director Samme L. Thompson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total value of $715,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David E. Sharbutt sold 1,584 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total transaction of $228,792.96. Following the completion of the sale, the director now directly owns 4,861 shares of the company’s stock, valued at $702,122.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,251 shares of company stock worth $5,885,334. 0.86% of the stock is currently owned by insiders.

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American Tower Company Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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

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