Crestwood Advisors Group LLC Sells 345 Shares of American Tower Co. (NYSE:AMT)

Crestwood Advisors Group LLC cut its holdings in shares of American Tower Co. (NYSE:AMT) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,341 shares of the real estate investment trust’s stock after selling 345 shares during the quarter. Crestwood Advisors Group LLC’s holdings in American Tower were worth $4,148,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMT. Northwest Investment Counselors LLC acquired a new stake in American Tower in the first quarter valued at $25,000. Gold Investment Management Ltd. bought a new stake in shares of American Tower in the 4th quarter valued at about $28,000. Cultivar Capital Inc. acquired a new stake in American Tower in the 2nd quarter valued at about $25,000. Private Wealth Management Group LLC bought a new position in American Tower during the fourth quarter worth about $31,000. Finally, Hobbs Group Advisors LLC bought a new position in American Tower during the second quarter worth about $29,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’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 transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,723 shares of company stock worth $7,795,397. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group started coverage on American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 price target for the company. TD Cowen upped their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Barclays cut their target price 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Two equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.14.

American Tower Trading Up 0.2 %

Shares of AMT stock opened at $224.06 on Tuesday. The stock has a market cap of $104.65 billion, a P/E ratio of 50.69, a price-to-earnings-growth ratio of 1.51 and a beta of 0.83. 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 50 day simple moving average of $213.40 and a 200 day simple moving average of $198.19. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $236.13.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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 company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. On average, research analysts predict that American Tower Co. will post 10.05 earnings per share for the current fiscal year.

American Tower 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.