Wedmont Private Capital raised its position in American Tower Co. (NYSE:AMT – Get Rating) by 69.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,804 shares of the real estate investment trust’s stock after purchasing an additional 741 shares during the period. Wedmont Private Capital’s holdings in American Tower were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the company. Cohen & Steers Inc. boosted its stake in American Tower by 27.5% during the 1st quarter. Cohen & Steers Inc. now owns 19,680,735 shares of the real estate investment trust’s stock worth $4,944,107,000 after purchasing an additional 4,239,151 shares during the period. Norges Bank acquired a new stake in shares of American Tower in the 4th quarter worth $1,148,150,000. BlackRock Inc. lifted its stake in shares of American Tower by 6.7% in the 4th quarter. BlackRock Inc. now owns 36,636,712 shares of the real estate investment trust’s stock worth $10,716,237,000 after acquiring an additional 2,302,202 shares during the period. State Street Corp lifted its stake in shares of American Tower by 7.9% in the first quarter. State Street Corp now owns 21,253,223 shares of the real estate investment trust’s stock valued at $5,339,235,000 after purchasing an additional 1,550,683 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of American Tower by 1,183.6% in the first quarter. Jennison Associates LLC now owns 1,518,225 shares of the real estate investment trust’s stock valued at $381,408,000 after purchasing an additional 1,399,946 shares during the period. 91.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
AMT has been the subject of several recent research reports. Bank of America assumed coverage on shares of American Tower in a report on Sunday, June 5th. They set a “buy” rating and a $315.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on American Tower from $260.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, July 14th. Credit Suisse Group began coverage on shares of American Tower in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $313.00 price objective for the company. Citigroup dropped their price target on American Tower from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Finally, JPMorgan Chase & Co. raised shares of American Tower from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $245.00 to $285.00 in a research report on Tuesday, June 21st. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $291.29.
Insider Buying and Selling
American Tower Trading Up 0.3 %
Shares of AMT opened at $245.89 on Monday. The stock has a 50-day moving average price of $262.74 and a 200 day moving average price of $253.53. American Tower Co. has a one year low of $220.00 and a one year high of $297.55. The company has a market capitalization of $114.48 billion, a P/E ratio of 40.44, a P/E/G ratio of 2.24 and a beta of 0.48. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.65 and a current ratio of 0.65.
American Tower (NYSE:AMT – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.99. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.64 billion. American Tower had a return on equity of 28.93% and a net margin of 27.23%. The business’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $2.42 EPS. Sell-side analysts forecast that American Tower Co. will post 9.47 EPS for the current fiscal year.
About American Tower
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
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