American Tower Co. (NYSE:AMT) Shares Purchased by Invesco Ltd.

Invesco Ltd. boosted its holdings in American Tower Co. (NYSE:AMTGet Rating) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,519,131 shares of the real estate investment trust’s stock after purchasing an additional 243,719 shares during the quarter. Invesco Ltd. owned approximately 0.99% of American Tower worth $1,135,297,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMT. Rational Advisors LLC lifted its stake in American Tower by 140.0% in the fourth quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 49 shares during the last quarter. Pinnacle Holdings LLC bought a new stake in American Tower in the first quarter valued at $29,000. Covestor Ltd bought a new stake in American Tower in the fourth quarter valued at $36,000. IAG Wealth Partners LLC lifted its stake in American Tower by 84.5% in the fourth quarter. IAG Wealth Partners LLC now owns 131 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Finally, Vectors Research Management LLC lifted its stake in American Tower by 134.5% in the fourth quarter. Vectors Research Management LLC now owns 136 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 91.03% of the company’s stock.

American Tower Trading Down 0.0 %

Shares of AMT opened at $261.59 on Friday. The business’s 50-day moving average price is $263.18 and its 200 day moving average price is $252.58. The stock has a market capitalization of $121.79 billion, a P/E ratio of 43.02, a P/E/G ratio of 2.38 and a beta of 0.48. American Tower Co. has a 1-year low of $220.00 and a 1-year high of $298.42. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 3.47.

American Tower (NYSE:AMTGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.99. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.64 billion. American Tower had a return on equity of 28.93% and a net margin of 27.23%. American Tower’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $2.42 EPS. Analysts expect that American Tower Co. will post 9.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AMT. Royal Bank of Canada raised their target price on American Tower from $282.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. JPMorgan Chase & Co. upgraded shares of American Tower from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $245.00 to $285.00 in a research note on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American Tower from $260.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, July 14th. Citigroup cut their price objective on shares of American Tower from $300.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, July 18th. Finally, KeyCorp lifted their price objective on shares of American Tower from $283.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, August 2nd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $291.53.

Insider Buying and Selling

In related news, Director Robert D. Hormats sold 200 shares of American Tower stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $235.40, for a total value of $47,080.00. Following the transaction, the director now owns 6,721 shares of the company’s stock, valued at approximately $1,582,123.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert D. Hormats sold 150 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $254.53, for a total transaction of $38,179.50. Following the completion of the transaction, the director now directly owns 6,571 shares in the company, valued at $1,672,516.63. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert D. Hormats sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $235.40, for a total value of $47,080.00. Following the sale, the director now owns 6,721 shares in the company, valued at $1,582,123.40. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

American Tower Profile

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMTGet Rating).

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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