First Republic Investment Management Inc. boosted its holdings in shares of American Tower Corp (NYSE:AMT) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 362,661 shares of the real estate investment trust’s stock after buying an additional 4,877 shares during the period. First Republic Investment Management Inc. owned approximately 0.08% of American Tower worth $52,694,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of AMT. Mount Yale Investment Advisors LLC raised its position in American Tower by 354.4% during the second quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 560 shares during the period. Valeo Financial Advisors LLC raised its position in American Tower by 75.0% during the second quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 441 shares during the period. Ancora Advisors LLC acquired a new position in American Tower during the third quarter valued at $157,000. Fuller & Thaler Asset Management Inc. raised its position in American Tower by 111.1% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,140 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 600 shares during the period. Finally, Sun Life Financial INC raised its position in American Tower by 311.3% during the second quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 906 shares during the period. 93.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AMT stock opened at $163.48 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11. The stock has a market capitalization of $72.01 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.58 and a beta of 0.62. American Tower Corp has a fifty-two week low of $130.37 and a fifty-two week high of $167.09.
American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 EPS. Equities research analysts expect that American Tower Corp will post 7.58 earnings per share for the current fiscal year.
Several research analysts have weighed in on AMT shares. Wells Fargo & Co upped their target price on American Tower from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Friday, November 16th. Moffett Nathanson lowered American Tower from a “buy” rating to a “neutral” rating and set a $164.00 target price on the stock. in a research report on Monday. Citigroup lowered American Tower from a “buy” rating to a “neutral” rating and upped their target price for the stock from $161.00 to $176.00 in a research report on Wednesday, October 31st. KeyCorp upped their target price on American Tower from $165.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 31st. Finally, Barclays upped their target price on American Tower from $156.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 31st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. American Tower currently has an average rating of “Buy” and a consensus target price of $165.31.
In other news, CFO Thomas A. Bartlett sold 93,338 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $165.00, for a total transaction of $15,400,770.00. Following the transaction, the chief financial officer now owns 133,660 shares of the company’s stock, valued at approximately $22,053,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Olivier Puech sold 10,747 shares of the stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $161.87, for a total value of $1,739,616.89. Following the transaction, the executive vice president now directly owns 20,543 shares in the company, valued at approximately $3,325,295.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 351,360 shares of company stock worth $55,867,093. 0.87% of the stock is currently owned by insiders.
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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 170,000 communications sites.
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