American Tower Co. (NYSE:AMT) Shares Acquired by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC raised its stake in shares of American Tower Co. (NYSE:AMT) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,314 shares of the real estate investment trust’s stock after purchasing an additional 3,211 shares during the period. Anchor Capital Advisors LLC’s holdings in American Tower were worth $14,251,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research reports. Royal Bank of Canada boosted their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on shares of American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 price objective for the company. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. TD Cowen lifted their target price on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Scotiabank increased their price target on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $231.14.

Insider Buying and Selling

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’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 sale, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the transaction, the executive vice president now owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,723 shares of company stock worth $7,795,397. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

AMT stock opened at $236.16 on Friday. The company has a market capitalization of $110.31 billion, a PE ratio of 53.43, a P/E/G ratio of 1.54 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The stock’s 50 day moving average is $216.56 and its two-hundred day moving average is $199.39. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $236.44.

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

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.