Obermeyer Wood Investment Counsel Lllp Cuts Position in American Tower Co. (NYSE:AMT)

Obermeyer Wood Investment Counsel Lllp cut its stake in shares of American Tower Co. (NYSE:AMT) by 4.4% during the second quarter, HoldingsChannel.com reports. The firm owned 1,149 shares of the real estate investment trust’s stock after selling 53 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in American Tower were worth $223,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AMT. Meyer Handelman Co. purchased a new position in American Tower in the first quarter valued at about $801,000. TD Asset Management Inc boosted its position in shares of 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 buying an additional 51,882 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in American Tower by 13.8% during the 1st 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. Berkeley Capital Partners LLC increased its stake in shares of 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 in the last quarter. Finally, Tidal Investments LLC raised its position 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 worth $4,029,000 after purchasing an additional 4,430 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada lifted their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Barclays decreased their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. TD Cowen boosted their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group initiated coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 target price for the company. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.14.

American Tower Stock Up 0.2 %

AMT opened at $224.06 on Monday. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $236.13. The firm has a 50 day moving average price of $212.85 and a 200 day moving average price of $197.95. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $104.65 billion, a PE ratio of 50.69, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the company earned $2.46 EPS. American Tower’s revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that American Tower Co. will post 10.05 earnings per share for the current year.

Insider Transactions at American Tower

In related news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Sanjay Goel sold 3,504 shares of the firm’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 value of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. The disclosure for this sale can be found here. Insiders sold 37,227 shares of company stock valued at $8,497,458 over the last quarter. Company insiders own 0.18% of the company’s stock.

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.