Lowell Blake & Associates Inc. Boosts Position in American Tower Co. (NYSE:AMT)

Lowell Blake & Associates Inc. grew its holdings in shares of American Tower Co. (NYSE:AMT) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,462 shares of the real estate investment trust’s stock after buying an additional 466 shares during the quarter. American Tower accounts for 1.4% of Lowell Blake & Associates Inc.’s portfolio, making the stock its 23rd largest position. Lowell Blake & Associates Inc.’s holdings in American Tower were worth $4,386,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AMT. J.Safra Asset Management Corp boosted its holdings in 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 worth $26,000 after acquiring an additional 107 shares during the period. Elequin Securities LLC purchased a new position in shares of American Tower in the fourth quarter valued at $28,000. Pinnacle Holdings LLC acquired a new stake in American Tower during the 1st quarter valued at $29,000. Eagle Bay Advisors LLC acquired a new position in American Tower in the 2nd quarter worth $30,000. Finally, Sittner & Nelson LLC boosted its position in American Tower by 151.7% in the 1st quarter. Sittner & Nelson LLC now owns 151 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMT. Barclays dropped their target price on American Tower from $233.00 to $228.00 and set an “overweight” rating on the stock in a research report on Monday, August 7th. StockNews.com assumed coverage on American Tower in a research note on Thursday, August 17th. They set a “hold” rating for the company. Raymond James dropped their price target 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. BMO Capital Markets assumed coverage on shares of American Tower in a research note on Thursday, July 13th. They set an “outperform” rating and a $230.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on shares of 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 investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.50.

Insider Activity

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

American Tower Stock Performance

AMT stock traded up $2.79 on Thursday, reaching $180.80. The company’s stock had a trading volume of 616,533 shares, compared to its average volume of 2,064,054. The firm has a fifty day moving average of $186.47 and a two-hundred day moving average of $192.92. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $84.28 billion, a P/E ratio of 85.93, a price-to-earnings-growth ratio of 1.35 and a beta of 0.58. American Tower Co. has a 52 week low of $172.55 and a 52 week high of $265.56.

American Tower Profile

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.