Shorepoint Capital Partners LLC Trims Stock Holdings in American Tower Co. (NYSE:AMT)

Shorepoint Capital Partners LLC lessened its stake in American Tower Co. (NYSE:AMT) by 48.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,876 shares of the real estate investment trust’s stock after selling 3,712 shares during the quarter. Shorepoint Capital Partners LLC’s holdings in American Tower were worth $792,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J.Safra Asset Management Corp grew its position in shares of American Tower by 629.4% during the fourth 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 last quarter. Elequin Securities LLC purchased a new position in American Tower in the 4th quarter worth about $28,000. Pinnacle Holdings LLC purchased a new stake in shares of American Tower in the 1st quarter valued at approximately $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of American Tower in the second quarter worth $30,000. Finally, Sittner & Nelson LLC grew its stake in 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 acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling

In other American Tower 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 transaction of $510,412.59. Following the completion of the sale, the chief financial officer now owns 50,662 shares of the company’s stock, valued at approximately $9,482,406.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other American Tower news, CFO Rodney M. Smith sold 2,727 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $187.17, for a total transaction of $510,412.59. Following the transaction, the chief financial officer now owns 50,662 shares in the company, valued at $9,482,406.54. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 value 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. Insiders sold a total of 16,251 shares of company stock valued at $2,957,531 over the last ninety days. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of several recent research reports. BMO Capital Markets initiated coverage on shares of American Tower in a research report on Thursday, July 13th. They set an “outperform” rating and a $230.00 price objective on the stock. Wells Fargo & Company decreased their price target on shares of American Tower from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 18th. Barclays reduced their target price on American Tower from $233.00 to $228.00 and set an “overweight” rating for the company in a research report on Monday, August 7th. StockNews.com assumed coverage on American Tower in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Raymond James dropped 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 report on Tuesday, August 22nd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $240.50.

American Tower Trading Down 1.5 %

American Tower stock traded down $2.75 during trading hours on Monday, reaching $178.14. 256,000 shares of the company’s stock traded hands, compared to its average volume of 2,061,567. American Tower Co. has a fifty-two week low of $172.55 and a fifty-two week high of $265.56. The firm’s 50 day moving average is $186.01 and its 200-day moving average is $192.51. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $83.04 billion, a price-to-earnings ratio of 87.39, a PEG ratio of 1.37 and a beta of 0.58.

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.