Modus Advisors LLC Buys 780 Shares of American Tower Co. (NYSE:AMT)

Modus Advisors LLC increased its position in shares of American Tower Co. (NYSE:AMT) by 38.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,828 shares of the real estate investment trust’s stock after purchasing an additional 780 shares during the quarter. Modus Advisors LLC’s holdings in American Tower were worth $548,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMT. Skandinaviska Enskilda Banken AB publ grew its position in American Tower by 1.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 84,207 shares of the real estate investment trust’s stock valued at $17,207,000 after acquiring an additional 1,026 shares during the last quarter. HB Wealth Management LLC lifted its stake in shares of American Tower by 3.5% in the 1st quarter. HB Wealth Management LLC now owns 20,731 shares of the real estate investment trust’s stock valued at $4,236,000 after acquiring an additional 695 shares during the last quarter. Dakota Wealth Management boosted its holdings in shares of American Tower by 22.2% during the 1st quarter. Dakota Wealth Management now owns 11,274 shares of the real estate investment trust’s stock valued at $2,304,000 after acquiring an additional 2,045 shares in the last quarter. Strategic Blueprint LLC boosted its stake in shares of American Tower by 5.0% during the first quarter. Strategic Blueprint LLC now owns 2,958 shares of the real estate investment trust’s stock valued at $604,000 after purchasing an additional 140 shares in the last quarter. Finally, FourThought Financial Partners LLC grew its holdings in shares of American Tower by 7.2% during the first quarter. FourThought Financial Partners LLC now owns 65,947 shares of the real estate investment trust’s stock worth $13,476,000 after purchasing an additional 4,454 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMT has been the topic of a number of research reports. Raymond James reduced their target price on shares of American Tower from $211.00 to $205.00 and set an “outperform” rating on the stock in a report on Tuesday, August 22nd. StockNews.com initiated coverage on shares of American Tower in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Barclays decreased their target price 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. BMO Capital Markets began coverage on American Tower in a research note on Thursday, July 13th. They issued an “outperform” rating and a $230.00 price target on the stock. Finally, Royal Bank of Canada lowered their price objective 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 investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $240.29.

Insider Activity

In related news, CFO Rodney M. Smith sold 3,524 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $188.91, for a total value of $665,718.84. Following the sale, the chief financial officer now directly owns 53,389 shares in the company, valued at approximately $10,085,715.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other American Tower news, CFO Rodney M. Smith sold 3,524 shares of the firm’s stock in a transaction on 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 transaction, 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 SEC, which can be accessed through the SEC website. Also, CFO Rodney M. Smith sold 10,000 shares of American Tower stock in a transaction on 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 sale, the chief financial officer now directly owns 50,662 shares of the company’s stock, valued at approximately $9,024,928.68. The disclosure for this sale can be found here. Insiders have sold 16,251 shares of company stock valued at $2,957,531 in the last 90 days. Insiders own 0.24% of the company’s stock.

American Tower Stock Performance

NYSE AMT traded up $4.09 on Thursday, hitting $181.04. 308,190 shares of the stock traded hands, compared to its average volume of 2,051,594. 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 business’s fifty day moving average is $185.40 and its two-hundred day moving average is $192.24. American Tower Co. has a 12 month low of $172.55 and a 12 month high of $251.99. The firm has a market capitalization of $84.39 billion, a price-to-earnings ratio of 86.84, 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.