Strategic Blueprint LLC Has $809,000 Holdings in American Tower Co. (NYSE:AMT)

Strategic Blueprint LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 7.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,160 shares of the real estate investment trust’s stock after selling 355 shares during the period. Strategic Blueprint LLC’s holdings in American Tower were worth $809,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after buying an additional 965,938 shares in the last quarter. Cohen & Steers Inc. increased its position in American Tower by 3.7% during the 4th quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock worth $3,549,366,000 after purchasing an additional 583,892 shares in the last quarter. Wellington Management Group LLP boosted its position in American Tower by 21.9% in the fourth quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after buying an additional 2,839,570 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of American Tower by 36.2% during the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after buying an additional 2,336,501 shares during the last quarter. Finally, Akre Capital Management LLC increased its holdings in shares of American Tower by 0.5% during the fourth quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock worth $1,468,977,000 after buying an additional 36,375 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Buying and Selling at American Tower

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction that occurred 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 directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,227 shares of company stock valued at $8,497,458. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BMO Capital Markets restated an “outperform” rating and set a $246.00 price objective (up previously from $225.00) on shares of American Tower in a research report on Wednesday, July 31st. Barclays dropped their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. TD Cowen boosted their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank upped their price objective on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” 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 assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $231.14.

American Tower Stock Down 0.8 %

AMT opened at $223.51 on Friday. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $236.13. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day moving average is $211.68 and its 200 day moving average is $197.41. The firm has a market capitalization of $104.40 billion, a P/E ratio of 50.57, a PEG ratio of 1.52 and a beta of 0.81.

American Tower (NYSE:AMT) last released its 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). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Research analysts expect that American Tower Co. will post 10.04 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.