American Tower Co. (NYSE:AMT) Shares Purchased by Buttonwood Financial Advisors Inc.

Buttonwood Financial Advisors Inc. raised its stake in shares of American Tower Co. (NYSE:AMT) by 12.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,896 shares of the real estate investment trust’s stock after acquiring an additional 544 shares during the period. Buttonwood Financial Advisors Inc.’s holdings in American Tower were worth $950,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AMT. Delta Financial Group Inc. boosted its stake in shares of American Tower by 2.9% in the second quarter. Delta Financial Group Inc. now owns 2,384 shares of the real estate investment trust’s stock valued at $462,000 after purchasing an additional 67 shares during the period. AE Wealth Management LLC grew its stake in shares of American Tower by 32.0% in the second quarter. AE Wealth Management LLC now owns 33,480 shares of the real estate investment trust’s stock worth $6,493,000 after acquiring an additional 8,124 shares in the last quarter. SG Americas Securities LLC increased its position in shares of American Tower by 331.2% during the second quarter. SG Americas Securities LLC now owns 60,339 shares of the real estate investment trust’s stock worth $11,702,000 after acquiring an additional 46,345 shares during the period. CGN Advisors LLC raised its stake in shares of American Tower by 22.4% in the second quarter. CGN Advisors LLC now owns 14,806 shares of the real estate investment trust’s stock valued at $2,871,000 after acquiring an additional 2,709 shares in the last quarter. Finally, DNB Asset Management AS boosted its holdings in American Tower by 30.4% in the second quarter. DNB Asset Management AS now owns 127,580 shares of the real estate investment trust’s stock valued at $24,743,000 after purchasing an additional 29,753 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock traded down $0.94 during trading hours on Friday, hitting $180.14. The stock had a trading volume of 3,514,612 shares, compared to its average volume of 1,549,301. 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 firm has a market capitalization of $83.97 billion, a PE ratio of 86.99, a PEG ratio of 1.36 and a beta of 0.58. American Tower Co. has a twelve month low of $172.55 and a twelve month high of $247.78. The stock’s 50 day moving average is $184.67 and its 200 day moving average is $192.06.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays decreased their price objective 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. Morgan Stanley lowered their price target on shares of American Tower from $213.00 to $212.00 and set an “equal weight” rating for the company in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of American Tower from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, July 18th. BMO Capital Markets began 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. Finally, Royal Bank of Canada cut their price target 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. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $240.29.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 50,662 shares in the company, valued at $9,024,928.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rodney M. Smith sold 2,727 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $9,482,406.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 10,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $178.14, for a total value of $1,781,400.00. Following the completion of the transaction, the chief financial officer now 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. In the last ninety days, insiders sold 16,251 shares of company stock valued at $2,957,531. 0.24% of the stock is owned by company insiders.

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.