First Republic Investment Management Inc. Buys 18,533 Shares of American Tower Co. (NYSE:AMT)

First Republic Investment Management Inc. increased its position in shares of American Tower Co. (NYSE:AMT) by 6.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 290,810 shares of the real estate investment trust’s stock after purchasing an additional 18,533 shares during the quarter. First Republic Investment Management Inc. owned 0.06% of American Tower worth $59,424,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. J.Safra Asset Management Corp increased its stake in shares of American Tower by 629.4% in the 4th quarter. J.Safra Asset Management Corp now owns 124 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 107 shares during the last quarter. Elequin Securities LLC acquired a new position in American Tower during the fourth quarter worth about $28,000. Pinnacle Holdings LLC bought a new position in shares of American Tower in the first quarter worth about $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of American Tower in the 2nd quarter valued at approximately $30,000. Finally, Sittner & Nelson LLC grew its holdings in shares of American Tower by 151.7% during the 1st quarter. Sittner & Nelson LLC now owns 151 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 91 shares during the last quarter. 97.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 10,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $178.14, for a total transaction of $1,781,400.00. Following the sale, the chief financial officer now owns 50,662 shares of the company’s stock, valued at $9,024,928.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Rodney M. Smith sold 2,727 shares of American Tower stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $187.17, for a total value of $510,412.59. Following the completion of the sale, the chief financial officer now owns 50,662 shares in the company, valued at approximately $9,482,406.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 10,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $178.14, for a total transaction of $1,781,400.00. Following the transaction, the chief financial officer now directly owns 50,662 shares in the company, valued at $9,024,928.68. The disclosure for this sale can be found here. Insiders sold 16,251 shares of company stock valued at $2,957,531 over the last quarter. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMT shares. BMO Capital Markets initiated coverage on shares of American Tower in a research report on Thursday, July 13th. They issued an “outperform” rating and a $230.00 target price on the stock. Barclays cut their price objective on American Tower from $233.00 to $228.00 and set an “overweight” rating on the stock in a report on Monday, August 7th. Wells Fargo & Company lowered their target price on American Tower from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. Royal Bank of Canada cut their price target on American Tower from $233.00 to $230.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 1st. Finally, StockNews.com assumed coverage on American Tower in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $240.50.

American Tower Stock Up 0.4 %

American Tower stock opened at $182.31 on Thursday. The firm has a 50 day moving average price of $187.25 and a two-hundred day moving average price of $194.11. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.73 and a current ratio of 0.73. American Tower Co. has a 52-week low of $172.55 and a 52-week high of $265.56. The firm has a market cap of $84.98 billion, a price-to-earnings ratio of 88.07, a PEG ratio of 1.34 and a beta of 0.57.

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 nearly 226,000 communications sites and a highly interconnected footprint of U.S. data center facilities.