American Tower Co. (NYSE:AMT) Shares Sold by Cozad Asset Management Inc.

Cozad Asset Management Inc. decreased its holdings in American Tower Co. (NYSE:AMT) by 3.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,424 shares of the real estate investment trust’s stock after selling 48 shares during the quarter. Cozad Asset Management Inc.’s holdings in American Tower were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AMT. Fortis Capital Advisors LLC acquired a new position in shares of American Tower during the fourth quarter valued at approximately $220,000. Accretive Wealth Partners LLC lifted its position in American Tower by 9.4% during the fourth quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock worth $958,000 after buying an additional 380 shares in the last quarter. Aveo Capital Partners LLC purchased a new position in American Tower during the fourth quarter worth approximately $344,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in American Tower during the fourth quarter worth approximately $215,000. Finally, Gryphon Financial Partners LLC lifted its position in American Tower by 17.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 10,950 shares of the real estate investment trust’s stock worth $2,472,000 after buying an additional 1,620 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated 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 completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other American Tower news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction dated 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 completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, 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 valued at $7,795,397 in the last ninety days. Insiders own 0.18% of the company’s stock.

American Tower Trading Up 0.5 %

AMT opened at $233.64 on Friday. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $236.13. The stock has a market capitalization of $109.10 billion, a price-to-earnings ratio of 52.86, a PEG ratio of 1.51 and a beta of 0.83. 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 business has a fifty day moving average price of $215.72 and a 200 day moving average price of $198.98.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 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 company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the firm earned $2.46 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts expect that American Tower Co. will post 10.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BMO Capital Markets reiterated 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. The Goldman Sachs Group started coverage on American Tower in a research note on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada raised their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their target price 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.