Clearbridge Investments LLC Raises Stock Position in American Tower Co. (NYSE:AMT)

Clearbridge Investments LLC boosted its position in American Tower Co. (NYSE:AMT) by 9.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,701,482 shares of the real estate investment trust’s stock after purchasing an additional 226,007 shares during the quarter. Clearbridge Investments LLC owned about 0.58% of American Tower worth $552,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of AMT. Public Sector Pension Investment Board raised its position in shares of American Tower by 0.3% in the first quarter. Public Sector Pension Investment Board now owns 108,348 shares of the real estate investment trust’s stock worth $22,140,000 after buying an additional 329 shares in the last quarter. Ethic Inc. raised its holdings in shares of American Tower by 34.4% in the 1st quarter. Ethic Inc. now owns 33,276 shares of the real estate investment trust’s stock valued at $6,800,000 after acquiring an additional 8,510 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of American Tower by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,347,177 shares of the real estate investment trust’s stock valued at $1,296,961,000 after acquiring an additional 152,055 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of American Tower by 1.6% during the first quarter. Wellington Management Group LLP now owns 13,452,478 shares of the real estate investment trust’s stock worth $2,748,879,000 after purchasing an additional 213,815 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC increased its position in shares of American Tower by 18.7% in the first quarter. SYSTM Wealth Solutions LLC now owns 10,223 shares of the real estate investment trust’s stock worth $2,089,000 after purchasing an additional 1,610 shares during the last quarter. 97.13% of the stock is owned by institutional investors.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 10,000 shares of the business’s stock in a transaction dated 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 owns 50,662 shares in the company, valued at approximately $9,024,928.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other American Tower news, CFO Rodney M. Smith sold 10,000 shares of the business’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 transaction, the chief financial officer now directly owns 50,662 shares of the company’s stock, valued at approximately $9,024,928.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Rodney M. Smith sold 3,524 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $188.91, for a total transaction of $665,718.84. Following the completion of the transaction, the chief financial officer now owns 53,389 shares of the company’s stock, valued at $10,085,715.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,251 shares of company stock worth $2,957,531. Company insiders own 0.24% of the company’s stock.

American Tower Trading Down 1.0 %

AMT traded down $1.83 during trading on Friday, hitting $179.49. 523,559 shares of the stock traded hands, compared to its average volume of 2,066,728. The firm has a 50-day moving average of $187.15 and a 200 day moving average of $194.02. American Tower Co. has a 12-month low of $172.55 and a 12-month high of $265.56. The firm has a market capitalization of $83.67 billion, a P/E ratio of 87.81, a price-to-earnings-growth ratio of 1.34 and a beta of 0.57. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.73 and a quick ratio of 0.73.

Analyst Ratings Changes

Several equities research analysts have issued reports on AMT shares. StockNews.com initiated coverage on shares of American Tower in a research report on Thursday, August 17th. They set a “hold” rating for the company. Royal Bank of Canada reduced their target price 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. Barclays dropped their price target on American Tower from $233.00 to $228.00 and set an “overweight” rating for the company in a research note on Monday, August 7th. Raymond James reduced their price objective on American Tower from $211.00 to $205.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 22nd. Finally, Wells Fargo & Company dropped their target price on American Tower from $245.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday, July 18th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.50.

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.