MCF Advisors LLC Buys 140 Shares of American Tower Co. (NYSE:AMT)

MCF Advisors LLC boosted its stake in shares of American Tower Co. (NYSE:AMT) by 47.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 435 shares of the real estate investment trust’s stock after acquiring an additional 140 shares during the period. MCF Advisors LLC’s holdings in American Tower were worth $85,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Allstate Corp boosted its holdings in shares of American Tower by 3.1% in the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after purchasing an additional 53 shares in the last quarter. NBT Bank N A NY boosted its holdings in shares of American Tower by 3.3% during the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 54 shares in the last quarter. Glassman Wealth Services boosted its holdings in shares of American Tower by 4.7% during the 4th quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 56 shares in the last quarter. CFO4Life Group LLC boosted its holdings in shares of American Tower by 5.4% during the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 57 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of American Tower by 1.4% during the 4th quarter. Main Street Financial Solutions LLC now owns 4,265 shares of the real estate investment trust’s stock valued at $921,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $236.23 on Friday. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $236.44. The stock’s 50 day moving average price is $216.56 and its 200-day moving average price is $199.32. The company has a market capitalization of $110.34 billion, a PE ratio of 53.45, a PEG ratio of 1.54 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT) last announced 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 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 analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the firm earned $2.46 EPS. American Tower’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that American Tower Co. will post 10.18 EPS for the current year.

Insider Activity at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the company’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 value of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction 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 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 this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,723 shares of company stock worth $7,795,397. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AMT shares. 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 report on Wednesday, July 31st. Wells Fargo & Company raised their target price on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. TD Cowen lifted their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group initiated coverage on American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 target price for the company. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.14.

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.