Bailard Inc. Cuts Holdings in American Tower Co. (NYSE:AMT)

Bailard Inc. lowered its position in American Tower Co. (NYSE:AMT) by 12.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,525 shares of the real estate investment trust’s stock after selling 1,696 shares during the quarter. Bailard Inc.’s holdings in American Tower were worth $2,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Anchor Capital Advisors LLC lifted its holdings in shares of American Tower by 38.1% during the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after acquiring an additional 21,139 shares in the last quarter. Meyer Handelman Co. acquired a new position in American Tower during the 1st quarter worth approximately $801,000. TD Asset Management Inc boosted its holdings in American Tower by 23.2% in the 4th quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after acquiring an additional 51,882 shares during the period. Kingsview Wealth Management LLC grew its position 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 acquiring an additional 4,660 shares in the last quarter. Finally, Berkeley Capital Partners LLC grew its position in American Tower by 3.5% in the fourth quarter. Berkeley Capital Partners LLC now owns 3,895 shares of the real estate investment trust’s stock valued at $841,000 after acquiring an additional 130 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of NYSE AMT opened at $225.29 on Tuesday. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $236.13. 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 firm has a market cap of $105.20 billion, a P/E ratio of 50.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.81. The business’s 50 day moving average is $210.36 and its 200-day moving average is $196.99.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share 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 the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $2.46 EPS. Equities research analysts predict that American Tower Co. will post 10.04 earnings per share for the current year.

Insider Activity at American Tower

In related news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the sale, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now 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 37,227 shares of company stock worth $8,497,458 over the last ninety days. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AMT shares. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Barclays reduced their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upped their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Scotiabank lifted their target price on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. Finally, TD Cowen boosted their target price on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $231.14.

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.