American Tower Co. (NYSE:AMT) Shares Sold by Delta Financial Advisors LLC

Delta Financial Advisors LLC trimmed its position in American Tower Co. (NYSE:AMT) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,057 shares of the real estate investment trust’s stock after selling 134 shares during the quarter. Delta Financial Advisors LLC’s holdings in American Tower were worth $400,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AMT. Meyer Handelman Co. acquired a new stake in American Tower during the 1st quarter valued at approximately $801,000. TD Asset Management Inc lifted its position in American Tower by 23.2% during the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after purchasing an additional 51,882 shares during the period. Kingsview Wealth Management LLC boosted its holdings in American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after purchasing an additional 4,660 shares during the last quarter. Berkeley Capital Partners LLC grew its position in American Tower by 3.5% during the 4th quarter. Berkeley Capital Partners LLC now owns 3,895 shares of the real estate investment trust’s stock worth $841,000 after purchasing an additional 130 shares during the period. Finally, Tidal Investments LLC raised its stake in shares of American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after buying an additional 4,430 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.1 %

AMT opened at $236.16 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $236.44. The company has a market cap of $110.31 billion, a PE ratio of 53.43, a price-to-earnings-growth ratio of 1.54 and a beta of 0.83. The company has a 50-day moving average price of $216.56 and a 200 day moving average price of $199.39.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The firm had revenue of $2.90 billion for 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%. American Tower’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.46 EPS. Sell-side analysts expect that American Tower Co. will post 10.18 earnings per share for the current fiscal year.

Insider Activity at American Tower

In other news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on AMT. Royal Bank of Canada raised 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. Scotiabank raised their price objective on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. BMO Capital Markets restated an “outperform” rating and set a $246.00 price target (up previously from $225.00) on shares of American Tower in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.14.

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.