American Tower Co. (NYSE:AMT) Position Reduced by New Hampshire Trust

New Hampshire Trust cut its position in shares of American Tower Co. (NYSE:AMT) by 2.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,757 shares of the real estate investment trust’s stock after selling 232 shares during the quarter. New Hampshire Trust’s holdings in American Tower were worth $2,086,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AMT. 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 worth $1,061,000 after purchasing 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 worth $17,207,000 after purchasing 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 worth $4,236,000 after purchasing 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 worth $2,304,000 after purchasing 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 worth $604,000 after purchasing an additional 140 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of American Tower in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Royal Bank of Canada cut their price objective on shares of American Tower from $233.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 1st. Raymond James cut their price objective on shares of American Tower from $211.00 to $205.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 22nd. Wells Fargo & Company lowered their price target on American Tower from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, July 18th. Finally, Morgan Stanley cut their price objective on American Tower from $213.00 to $212.00 and set an “equal weight” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $240.29.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 3,524 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was 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 in the company, valued at approximately $10,085,715.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rodney M. Smith sold 10,000 shares of the business’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 value of $1,781,400.00. Following the completion of the transaction, the chief financial officer now directly owns 50,662 shares in the company, valued at approximately $9,024,928.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rodney M. Smith sold 3,524 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $188.91, for a total transaction of $665,718.84. Following the transaction, the chief financial officer now directly owns 53,389 shares of the company’s stock, valued at $10,085,715.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,251 shares of company stock worth $2,957,531. 0.24% of the stock is currently owned by company insiders.

American Tower Trading Down 0.5 %

Shares of American Tower stock traded down $0.94 during trading on Friday, hitting $180.14. 3,514,612 shares of the company were exchanged, compared to its average volume of 1,549,301. The firm has a market capitalization of $83.97 billion, a P/E ratio of 87.02, a price-to-earnings-growth ratio of 1.36 and a beta of 0.58. American Tower Co. has a 1-year low of $172.55 and a 1-year high of $247.78. The firm’s fifty day moving average price is $184.36 and its 200 day moving average price is $191.91. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.73 and a quick ratio of 0.73.

American Tower Company 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.