Founders Financial Securities LLC Grows Position in American Tower Co. (NYSE:AMT)

Founders Financial Securities LLC raised its position in American Tower Co. (NYSE:AMT) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,787 shares of the real estate investment trust’s stock after acquiring an additional 345 shares during the quarter. Founders Financial Securities LLC’s holdings in American Tower were worth $1,319,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meyer Handelman Co. acquired a new position in shares of American Tower during the first quarter worth $801,000. TD Asset Management Inc increased its holdings 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 valued at $59,459,000 after acquiring an additional 51,882 shares during the last quarter. Kingsview Wealth Management LLC raised its position in shares of 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 worth $7,613,000 after acquiring an additional 4,660 shares in the last quarter. Berkeley Capital Partners LLC lifted its stake in American Tower by 3.5% during the fourth 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 during the last quarter. Finally, Tidal Investments LLC boosted its holdings in American Tower by 27.7% in the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after purchasing an additional 4,430 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent analyst reports. Scotiabank boosted their price objective on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price target for the company. Barclays dropped their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Wells Fargo & Company boosted their target price on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price target on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $231.14.

Insider Activity

In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction dated 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 owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Olivier Puech sold 10,005 shares of the business’s 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 sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 $14,223,890. The disclosure for this sale can be found here. Insiders sold 33,723 shares of company stock worth $7,795,397 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

American Tower Stock Up 0.9 %

Shares of American Tower stock opened at $232.55 on Thursday. The company has a market cap of $108.62 billion, a P/E ratio of 52.61, a PEG ratio of 1.51 and a beta of 0.83. American Tower Co. has a one year low of $154.58 and a one year high of $236.13. The firm has a fifty day moving average of $214.95 and a two-hundred day moving average of $198.74. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio 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 (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 for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts forecast that American Tower Co. will post 10.05 earnings per share for the current 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.