Los Angeles Capital Management LLC Has $48.65 Million Position in American Tower Co. (NYSE:AMT)

Los Angeles Capital Management LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 0.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 250,279 shares of the real estate investment trust’s stock after selling 1,375 shares during the quarter. Los Angeles Capital Management LLC owned about 0.05% of American Tower worth $48,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AMT. Fortis Capital Advisors LLC bought a new position in shares of American Tower during the fourth quarter worth approximately $220,000. Accretive Wealth Partners LLC increased its position in American Tower by 9.4% during the 4th quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock worth $958,000 after buying an additional 380 shares during the period. Aveo Capital Partners LLC acquired a new stake in shares of American Tower during the fourth quarter worth $344,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of American Tower in the fourth quarter valued at about $215,000. Finally, Gryphon Financial Partners LLC grew its stake in shares of American Tower by 17.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 10,950 shares of the real estate investment trust’s stock valued at $2,472,000 after acquiring an additional 1,620 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Olivier Puech sold 10,005 shares of the 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 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 legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s 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 completion of the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at $7,424,177.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of American Tower 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 approximately $12,070,789.42. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last quarter. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. The Goldman Sachs Group assumed coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective for the company. TD Cowen increased their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada increased their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, Wells Fargo & Company upped their target price on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $231.14.

American Tower Stock Performance

Shares of AMT stock traded up $2.52 during trading hours on Friday, hitting $236.16. 2,749,994 shares of the company were exchanged, compared to its average volume of 2,325,473. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The stock has a market capitalization of $110.31 billion, a price-to-earnings ratio of 53.45, a P/E/G ratio of 1.54 and a beta of 0.83. The firm has a fifty day simple moving average of $216.56 and a 200 day simple moving average of $199.32. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $236.44.

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

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.