Connolly Sarah T. Has $1.65 Million Holdings in American Tower Co. (NYSE:AMT)

Connolly Sarah T. grew its stake in American Tower Co. (NYSE:AMT) by 16.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 8,096 shares of the real estate investment trust’s stock after buying an additional 1,160 shares during the quarter. Connolly Sarah T.’s holdings in American Tower were worth $1,654,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BCK Partners Inc. bought a new position in American Tower in the first quarter valued at $2,892,000. Fairfield Bush & CO. lifted its stake in American Tower by 138.9% in the first quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust’s stock valued at $711,000 after acquiring an additional 1,645 shares during the last quarter. Cetera Investment Advisers lifted its stake in American Tower by 5.7% in the first quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust’s stock valued at $3,621,000 after acquiring an additional 771 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in American Tower by 33.5% in the first quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust’s stock valued at $757,000 after acquiring an additional 756 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in American Tower by 1.4% in the first quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust’s stock valued at $38,367,000 after acquiring an additional 2,071 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 3,524 shares of American Tower stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $188.91, for a total transaction of $665,718.84. Following the sale, the chief financial officer now directly owns 53,389 shares of the company’s stock, valued at approximately $10,085,715.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Rodney M. Smith sold 10,000 shares of American Tower stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rodney M. Smith sold 3,524 shares of American Tower stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $188.91, for a total transaction of $665,718.84. Following the sale, the chief financial officer now directly owns 53,389 shares in the company, valued at $10,085,715.99. The disclosure for this sale can be found here. Insiders have sold a total of 16,251 shares of company stock valued at $2,957,531 in the last ninety days. 0.24% of the stock is currently owned by company insiders.

American Tower Price Performance

AMT stock traded up $0.84 during mid-day trading on Tuesday, hitting $181.63. The stock had a trading volume of 593,006 shares, compared to its average volume of 2,064,564. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 2.96. American Tower Co. has a 52 week low of $172.55 and a 52 week high of $265.56. The firm has a market capitalization of $84.67 billion, a P/E ratio of 87.34, a P/E/G ratio of 1.36 and a beta of 0.58. The firm has a fifty day simple moving average of $186.89 and a 200 day simple moving average of $193.24.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMT shares. Barclays cut their target price on shares of American Tower from $233.00 to $228.00 and set an “overweight” rating for the company in a research note on Monday, August 7th. BMO Capital Markets started coverage on shares of American Tower in a research note on Thursday, July 13th. They set an “outperform” rating and a $230.00 target price for the company. StockNews.com started coverage on shares of American Tower in a research note on Thursday, August 17th. They set a “hold” rating for the company. Raymond James cut their target price on shares of American Tower from $211.00 to $205.00 and set an “outperform” rating for the company in a research note on Tuesday, August 22nd. Finally, Royal Bank of Canada cut their target price on shares of American Tower from $233.00 to $230.00 and set an “outperform” rating for the company in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.