Patron Partners LLC Has $630,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Patron Partners LLC lifted its position in shares of American Tower Co. (NYSE:AMT) by 10.7% during the second quarter, HoldingsChannel reports. The firm owned 3,241 shares of the real estate investment trust’s stock after buying an additional 312 shares during the quarter. Patron Partners LLC’s holdings in American Tower were worth $630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortis Capital Advisors LLC bought a new stake in shares of American Tower in the fourth quarter worth about $220,000. Accretive Wealth Partners LLC increased its stake 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 purchasing an additional 380 shares in the last quarter. Aveo Capital Partners LLC acquired a new stake in American Tower during the 4th quarter worth approximately $344,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in American Tower in the fourth quarter valued at approximately $215,000. Finally, Gryphon Financial Partners LLC boosted its holdings 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 buying an additional 1,620 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT opened at $236.23 on Friday. 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 company’s fifty day simple moving average is $216.56 and its 200 day simple moving average is $199.32. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $236.44. The company has a market cap of $110.34 billion, a price-to-earnings ratio of 53.45, a PEG ratio of 1.54 and a beta of 0.83.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.46 EPS. On average, research analysts forecast that American Tower Co. will post 10.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMT has been the topic of a number of research analyst reports. The Goldman Sachs Group assumed coverage on shares of American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 price objective on the stock. Wells Fargo & Company lifted their price target on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays reduced their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Royal Bank of Canada increased their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $231.14.

Insiders Place Their Bets

In other news, EVP Olivier Puech sold 10,005 shares of American Tower 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 completion of the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower 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 directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock valued at $7,795,397 over the last 90 days. 0.18% of the stock is currently owned by insiders.

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.