Macquarie Group Ltd. Sells 4,325 Shares of American Tower Corp (NYSE:AMT)

Macquarie Group Ltd. decreased its holdings in American Tower Corp (NYSE:AMT) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 255,415 shares of the real estate investment trust’s stock after selling 4,325 shares during the quarter. Macquarie Group Ltd.’s holdings in American Tower were worth $66,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AMT. Winslow Evans & Crocker Inc. grew its position in American Tower by 0.4% in the second quarter. Winslow Evans & Crocker Inc. now owns 10,706 shares of the real estate investment trust’s stock worth $2,768,000 after acquiring an additional 40 shares in the last quarter. Goelzer Investment Management Inc. grew its holdings in shares of American Tower by 0.3% during the first quarter. Goelzer Investment Management Inc. now owns 14,873 shares of the real estate investment trust’s stock valued at $3,239,000 after buying an additional 43 shares during the last quarter. Institute for Wealth Management LLC. grew its holdings in shares of American Tower by 2.3% during the first quarter. Institute for Wealth Management LLC. now owns 2,046 shares of the real estate investment trust’s stock valued at $446,000 after buying an additional 46 shares during the last quarter. Brinker Capital Inc. grew its holdings in shares of American Tower by 0.6% during the first quarter. Brinker Capital Inc. now owns 7,669 shares of the real estate investment trust’s stock valued at $1,670,000 after buying an additional 46 shares during the last quarter. Finally, Old North State Trust LLC boosted its holdings in American Tower by 4.4% in the second quarter. Old North State Trust LLC now owns 1,120 shares of the real estate investment trust’s stock worth $290,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Several research analysts have weighed in on the stock. Wells Fargo & Co increased their price target on shares of American Tower from $272.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Oppenheimer assumed coverage on shares of American Tower in a research report on Tuesday, August 11th. They issued a “buy” rating and a $290.00 price target on the stock. Deutsche Bank assumed coverage on shares of American Tower in a research report on Friday, June 5th. They issued a “buy” rating and a $287.00 price target on the stock. Zacks Investment Research upgraded shares of American Tower from a “sell” rating to a “hold” rating and set a $273.00 price target on the stock in a research report on Monday, June 29th. Finally, Barclays initiated coverage on shares of American Tower in a research report on Wednesday, July 15th. They set an “overweight” rating and a $296.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $273.08.

Shares of NYSE AMT opened at $246.00 on Wednesday. The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.61 and a current ratio of 0.61. The company has a market cap of $108.87 billion, a P/E ratio of 57.17, a P/E/G ratio of 2.13 and a beta of 0.44. The firm’s fifty day moving average is $257.29 and its two-hundred day moving average is $246.43. American Tower Corp has a 52-week low of $174.32 and a 52-week high of $272.20.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.99). American Tower had a net margin of 24.70% and a return on equity of 39.62%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the prior year, the firm posted $2.01 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, analysts forecast that American Tower Corp will post 8 EPS for the current fiscal year.

In other American Tower news, EVP Olivier Puech sold 4,078 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $265.00, for a total transaction of $1,080,670.00. Following the sale, the executive vice president now owns 21,663 shares of the company’s stock, valued at approximately $5,740,695. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven O. Vondran sold 1,334 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $259.00, for a total transaction of $345,506.00. Following the sale, the executive vice president now directly owns 22,224 shares in the company, valued at approximately $5,756,016. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,115 shares of company stock valued at $2,130,071. 0.65% of the stock is owned by corporate insiders.

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 approximately 171,000 communications sites.

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

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