Capital Investment Advisors LLC Sells 1,426 Shares of American Tower Co. (NYSE:AMT)

Capital Investment Advisors LLC lessened its stake in American Tower Co. (NYSE:AMTGet Rating) by 34.5% in the second quarter, HoldingsChannel reports. The firm owned 2,705 shares of the real estate investment trust’s stock after selling 1,426 shares during the period. Capital Investment Advisors LLC’s holdings in American Tower were worth $691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMT. YHB Investment Advisors Inc. increased its holdings in shares of American Tower by 4.7% in the first quarter. YHB Investment Advisors Inc. now owns 945 shares of the real estate investment trust’s stock worth $237,000 after acquiring an additional 42 shares in the last quarter. Personal Capital Advisors Corp increased its holdings in shares of American Tower by 1.7% in the first quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock worth $631,000 after acquiring an additional 43 shares in the last quarter. Venture Visionary Partners LLC increased its holdings in shares of American Tower by 1.2% in the first quarter. Venture Visionary Partners LLC now owns 3,730 shares of the real estate investment trust’s stock worth $937,000 after acquiring an additional 45 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in shares of American Tower by 3.3% in the first quarter. Personal CFO Solutions LLC now owns 1,422 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 46 shares in the last quarter. Finally, PDS Planning Inc increased its holdings in shares of American Tower by 4.8% in the first quarter. PDS Planning Inc now owns 1,023 shares of the real estate investment trust’s stock worth $257,000 after acquiring an additional 47 shares in the last quarter. Institutional investors own 91.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMT shares. Morgan Stanley increased their price target on American Tower from $252.00 to $257.00 and gave the stock an “equal weight” rating in a report on Friday. Citigroup decreased their price objective on American Tower from $300.00 to $290.00 and set a “buy” rating for the company in a report on Monday, July 18th. Royal Bank of Canada increased their price objective on American Tower from $282.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. KeyCorp increased their price objective on American Tower from $283.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. upgraded American Tower from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $245.00 to $285.00 in a report on Tuesday, June 21st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $291.29.

American Tower Stock Up 0.3 %

AMT stock opened at $245.89 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 3.47. The business has a 50 day moving average price of $262.74 and a two-hundred day moving average price of $253.37. The company has a market cap of $114.48 billion, a price-to-earnings ratio of 40.44, a P/E/G ratio of 2.24 and a beta of 0.48. American Tower Co. has a twelve month low of $220.00 and a twelve month high of $297.55.

American Tower (NYSE:AMTGet Rating) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $1.95 EPS for the quarter, topping the consensus estimate of $0.96 by $0.99. American Tower had a return on equity of 28.93% and a net margin of 27.23%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the company posted $2.42 EPS. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. Analysts anticipate that American Tower Co. will post 9.47 EPS for the current fiscal year.

Insider Transactions at American Tower

In other news, Director Robert D. Hormats sold 150 shares of American Tower 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 approximately $1,672,516.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

American Tower Company Profile

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

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