American Tower Co. (NYSE:AMT) Stock Position Lifted by Quad Cities Investment Group LLC

Quad Cities Investment Group LLC boosted its stake in shares of American Tower Co. (NYSE:AMT) by 11.7% during the second quarter, HoldingsChannel.com reports. The firm owned 2,417 shares of the real estate investment trust’s stock after acquiring an additional 254 shares during the period. Quad Cities Investment Group LLC’s holdings in American Tower were worth $469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BCK Partners Inc. bought a new stake in American Tower during the first quarter valued at about $2,892,000. Fairfield Bush & CO. grew its holdings in American Tower by 138.9% in the 1st quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust’s stock valued at $711,000 after buying an additional 1,645 shares during the last quarter. Cetera Investment Advisers increased its position in American Tower by 5.7% in the 1st quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust’s stock worth $3,621,000 after buying an additional 771 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of American Tower by 33.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust’s stock worth $757,000 after buying an additional 756 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in shares of American Tower by 1.4% in the first quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust’s stock worth $38,367,000 after acquiring an additional 2,071 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of NYSE:AMT traded down $0.18 during midday trading on Monday, reaching $179.96. The company’s stock had a trading volume of 474,746 shares, compared to its average volume of 2,057,466. The business’s fifty day simple moving average is $184.36 and its 200-day simple moving average is $191.89. The company has a market capitalization of $83.89 billion, a P/E ratio of 87.02, a P/E/G ratio of 1.36 and a beta of 0.58. 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 Co. has a fifty-two week low of $172.55 and a fifty-two week high of $247.78.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now 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 SEC, which is accessible through the SEC website. In other American Tower news, CFO Rodney M. Smith sold 2,727 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $187.17, for a total transaction of $510,412.59. Following the transaction, the chief financial officer now directly owns 50,662 shares in the company, valued at approximately $9,482,406.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Rodney M. Smith sold 10,000 shares of American Tower 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 sale, 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 90 days, insiders sold 16,251 shares of company stock worth $2,957,531. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMT shares. StockNews.com started coverage on shares of American Tower in a report on Thursday, August 17th. They issued a “hold” rating for the company. BMO Capital Markets initiated coverage on American Tower in a research report on Thursday, July 13th. They set an “outperform” rating and a $230.00 target price on the stock. 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. Wells Fargo & Company decreased their price objective 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 target price on American Tower from $213.00 to $212.00 and set an “equal weight” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $240.29.

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.