SG Americas Securities LLC Buys 46,345 Shares of American Tower Co. (NYSE:AMT)

SG Americas Securities LLC increased its stake in American Tower Co. (NYSE:AMT) by 331.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,339 shares of the real estate investment trust’s stock after purchasing an additional 46,345 shares during the period. SG Americas Securities LLC’s holdings in American Tower were worth $11,702,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. J.Safra Asset Management Corp raised its holdings in shares of American Tower by 629.4% during the 4th quarter. J.Safra Asset Management Corp now owns 124 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 107 shares in the last quarter. Elequin Securities LLC acquired a new position in American Tower during the 4th quarter worth approximately $28,000. Pinnacle Holdings LLC acquired a new stake in American Tower in the first quarter valued at approximately $29,000. Eagle Bay Advisors LLC bought a new stake in shares of American Tower during the second quarter worth $30,000. Finally, Sittner & Nelson LLC increased its holdings in shares of American Tower by 151.7% during the first quarter. Sittner & Nelson LLC now owns 151 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 10,000 shares of the firm’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 transaction, the chief financial officer now directly owns 50,662 shares of the company’s stock, valued at $9,024,928.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Rodney M. Smith sold 10,000 shares of the 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 directly owns 50,662 shares of the company’s stock, valued at $9,024,928.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 2,727 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $187.17, for a total value of $510,412.59. Following the sale, the chief financial officer now directly owns 50,662 shares of the company’s stock, valued at $9,482,406.54. The disclosure for this sale can be found here. Insiders sold a total of 16,251 shares of company stock worth $2,957,531 in the last quarter. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent research reports. Barclays decreased their price target on shares of American Tower from $233.00 to $228.00 and set an “overweight” rating for the company in a research report on Monday, August 7th. Wells Fargo & Company lowered their target price on American Tower from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. Morgan Stanley cut their price target on American Tower from $213.00 to $212.00 and set an “equal weight” rating on the stock in a report on Thursday. BMO Capital Markets started coverage on shares of American Tower in a research note on Thursday, July 13th. They issued an “outperform” rating and a $230.00 price objective for the company. Finally, Raymond James reduced their price target on shares of American Tower from $211.00 to $205.00 and set an “outperform” rating for the company in a report on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $240.29.

American Tower Trading Down 0.6 %

Shares of American Tower stock opened at $180.06 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 2.96. The stock has a fifty day simple moving average of $184.67 and a 200 day simple moving average of $192.06. American Tower Co. has a 12-month low of $172.55 and a 12-month high of $247.78. The company has a market capitalization of $83.94 billion, a P/E ratio of 86.99, a price-to-earnings-growth ratio of 1.36 and a beta of 0.58.

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.