L & S Advisors Inc Trims Stake in American Tower Corp (NYSE:AMT)

L & S Advisors Inc trimmed its stake in American Tower Corp (NYSE:AMT) by 58.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,160 shares of the real estate investment trust’s stock after selling 35,880 shares during the period. L & S Advisors Inc’s holdings in American Tower were worth $5,144,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AMT. TrinityPoint Wealth LLC increased its stake in American Tower by 1.4% in the 2nd quarter. TrinityPoint Wealth LLC now owns 3,479 shares of the real estate investment trust’s stock worth $712,000 after buying an additional 49 shares in the last quarter. Hall Laurie J Trustee boosted its holdings in shares of American Tower by 13.3% during the 2nd quarter. Hall Laurie J Trustee now owns 425 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 50 shares during the last quarter. Knuff & Co LLC boosted its holdings in shares of American Tower by 0.3% during the 2nd quarter. Knuff & Co LLC now owns 18,390 shares of the real estate investment trust’s stock valued at $3,760,000 after purchasing an additional 50 shares during the last quarter. GYL Financial Synergies LLC boosted its holdings in shares of American Tower by 4.5% during the 2nd quarter. GYL Financial Synergies LLC now owns 1,167 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 50 shares during the last quarter. Finally, Veritable L.P. boosted its holdings in shares of American Tower by 0.3% during the 2nd quarter. Veritable L.P. now owns 20,092 shares of the real estate investment trust’s stock valued at $4,108,000 after purchasing an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

AMT has been the subject of several research reports. SunTrust Banks increased their price objective on shares of American Tower to $230.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on shares of American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Morgan Stanley increased their price target on shares of American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a report on Tuesday, August 20th. Finally, KeyCorp increased their price target on shares of American Tower from $225.00 to $253.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $205.87.

Shares of NYSE:AMT opened at $217.50 on Friday. The firm has a market cap of $95.71 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 1.75 and a beta of 0.47. The firm’s 50 day simple moving average is $221.91 and its 200-day simple moving average is $204.45. American Tower Corp has a one year low of $140.40 and a one year high of $242.00. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49.

American Tower (NYSE:AMT) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.91). The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $1.74 earnings per share. Equities research analysts predict that American Tower Corp will post 7.67 EPS for the current fiscal year.

In related news, Director Pamela D. A. Reeve sold 4,167 shares of American Tower stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $240.80, for a total transaction of $1,003,413.60. Following the transaction, the director now directly owns 19,139 shares of the company’s stock, valued at $4,608,671.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of American Tower stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $201.40, for a total transaction of $11,568,013.20. Following the transaction, the chief executive officer now directly owns 255,414 shares in the company, valued at $51,440,379.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,354 shares of company stock worth $28,232,160. Corporate insiders own 0.75% 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 approximately 171,000 communications sites.

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

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