Bath Savings Trust Co Has $14.04 Million Stake in American Tower Co. (NYSE:AMT)

Bath Savings Trust Co decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,378 shares of the real estate investment trust’s stock after selling 2,042 shares during the quarter. American Tower accounts for approximately 1.6% of Bath Savings Trust Co’s investment portfolio, making the stock its 20th largest position. Bath Savings Trust Co’s holdings in American Tower were worth $14,037,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AMT. J.Safra Asset Management Corp raised its stake in American Tower by 629.4% during the fourth quarter. J.Safra Asset Management Corp now owns 124 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 107 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in shares of American Tower during the first quarter worth about $29,000. Eagle Bay Advisors LLC bought a new stake in shares of American Tower during the second quarter worth about $30,000. Sittner & Nelson LLC grew 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 purchasing an additional 91 shares during the last quarter. Finally, Tucker Asset Management LLC bought a new stake in shares of American Tower during the first quarter worth about $31,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. StockNews.com assumed coverage on American Tower in a report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays reduced their price target on American Tower from $233.00 to $228.00 and set an “overweight” rating on the stock in a report on Monday, August 7th. Raymond James reduced their target price on American Tower from $211.00 to $205.00 and set an “outperform” rating on the stock in a report on Tuesday, August 22nd. BMO Capital Markets assumed coverage on American Tower in a report on Thursday, July 13th. They issued an “outperform” rating and a $230.00 target price on the stock. Finally, Royal Bank of Canada reduced their target price on American Tower from $233.00 to $230.00 and set an “outperform” rating on the stock in a report on Tuesday, August 1st. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.29.

American Tower Stock Up 0.2 %

Shares of NYSE:AMT traded up $0.35 during trading on Monday, reaching $180.49. 618,933 shares of the stock were exchanged, compared to its average volume of 2,058,380. The firm has a market cap of $84.14 billion, a price-to-earnings ratio of 87.02, a price-to-earnings-growth ratio of 1.36 and a beta of 0.58. The stock has a fifty day moving average of $184.36 and a two-hundred day moving average of $191.89. American Tower Co. has a 1-year low of $172.55 and a 1-year high of $247.78. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.73 and a quick ratio of 0.73.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 2,727 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $187.17, for a total value of $510,412.59. Following the completion of the sale, the chief financial officer now directly owns 50,662 shares of the company’s stock, valued at approximately $9,482,406.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Rodney M. Smith sold 3,524 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 53,389 shares of the company’s stock, valued at approximately $10,085,715.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rodney M. Smith sold 2,727 shares of the company’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 completion of the transaction, the chief financial officer now owns 50,662 shares of the company’s stock, valued at approximately $9,482,406.54. The disclosure for this sale can be found here. In the last three months, insiders sold 16,251 shares of company stock valued at $2,957,531. 0.24% of the stock is owned by 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.