Koss Olinger Consulting LLC Buys Shares of 1,135 American Tower Co. (NYSE:AMT)

Koss Olinger Consulting LLC purchased a new stake in shares of American Tower Co. (NYSE:AMT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,135 shares of the real estate investment trust’s stock, valued at approximately $221,000.

Other institutional investors have also modified their holdings of the company. Meyer Handelman Co. purchased a new stake in American Tower during the first quarter valued at approximately $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 purchasing an additional 51,882 shares in the last quarter. Kingsview Wealth Management LLC grew its stake 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 worth $7,613,000 after buying an additional 4,660 shares during the last quarter. Berkeley Capital Partners LLC increased its position in 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 valued at $841,000 after buying an additional 130 shares in the last quarter. Finally, Tidal Investments LLC raised its stake 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 buying an additional 4,430 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets restated an “outperform” rating and set a $246.00 price target (up previously from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. TD Cowen raised their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Barclays reduced their target price on 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, StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $231.14.

Insider Activity at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,723 shares of company stock valued at $7,795,397. 0.18% of the stock is currently owned by insiders.

American Tower Trading Up 1.1 %

Shares of American Tower stock opened at $238.69 on Tuesday. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $239.21. The firm’s 50-day moving average price is $217.45 and its 200 day moving average price is $199.83. 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 firm has a market capitalization of $111.46 billion, a PE ratio of 54.00, a P/E/G ratio of 1.57 and a beta of 0.83.

American Tower (NYSE:AMT) last posted its quarterly 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 for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the firm posted $2.46 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that American Tower Co. will post 10.18 EPS for the current fiscal 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.