Telemus Capital LLC Lowers Holdings in American Tower Co. (NYSE:AMT)

Telemus Capital LLC lowered its holdings in shares of American Tower Co. (NYSE:AMT) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,465 shares of the real estate investment trust’s stock after selling 2,483 shares during the quarter. Telemus Capital LLC’s holdings in American Tower were worth $6,878,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Level Four Advisory Services LLC lifted its position in shares of American Tower by 40.4% in the first quarter. Level Four Advisory Services LLC now owns 5,192 shares of the real estate investment trust’s stock valued at $1,061,000 after acquiring an additional 1,493 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of 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 in the last quarter. HB Wealth Management LLC lifted its position in shares of American Tower by 3.5% in the first 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 in the last quarter. Dakota Wealth Management lifted its position in shares of American Tower by 22.2% in the first 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. Finally, Strategic Blueprint LLC lifted its position in shares of American Tower by 5.0% in the first quarter. Strategic Blueprint LLC now owns 2,958 shares of the real estate investment trust’s stock valued at $604,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

American Tower Stock Down 0.5 %

NYSE:AMT traded down $0.94 during midday trading on Friday, reaching $180.14. The company had a trading volume of 3,514,612 shares, compared to its average volume of 1,549,301. The firm has a market capitalization of $83.97 billion, a price-to-earnings ratio of 86.99, a PEG ratio of 1.36 and a beta of 0.58. The stock’s fifty day simple moving average is $184.67 and its 200-day simple moving average is $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 current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 2.96.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 3,524 shares of American Tower stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $188.91, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other American Tower news, CFO Rodney M. Smith sold 3,524 shares of American Tower stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $188.91, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rodney M. Smith sold 10,000 shares of American Tower stock in a transaction dated 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 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 three months, insiders sold 16,251 shares of company stock worth $2,957,531. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of several recent research reports. Barclays cut their price target on American Tower from $233.00 to $228.00 and set an “overweight” rating for the company in a report on Monday, August 7th. Raymond James cut their price target on American Tower from $211.00 to $205.00 and set an “outperform” rating for the company in a report on Tuesday, August 22nd. BMO Capital Markets initiated coverage on American Tower in a report on Thursday, July 13th. They issued an “outperform” rating and a $230.00 price target for the company. Morgan Stanley cut their price target on American Tower from $213.00 to $212.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, StockNews.com initiated coverage on American Tower in a research note on Thursday, August 17th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $240.29.

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.