MJP Associates Inc. ADV Takes Position in American Tower Co. (NYSE:AMT)

MJP Associates Inc. ADV purchased a new stake in American Tower Co. (NYSE:AMT) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,494 shares of the real estate investment trust’s stock, valued at approximately $290,000.

Other institutional investors also recently bought and sold shares of the company. Pinnacle Holdings LLC acquired a new stake in American Tower in the 1st quarter worth approximately $29,000. Eagle Bay Advisors LLC acquired a new stake in American Tower during the 2nd quarter valued at approximately $30,000. J.Safra Asset Management Corp lifted its stake in 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 valued at $26,000 after acquiring an additional 107 shares during the period. VitalStone Financial LLC purchased a new position in shares of American Tower during the 1st quarter valued at approximately $38,000. Finally, Tucker Asset Management LLC purchased a new position in shares of American Tower during the 1st quarter valued at approximately $31,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Rodney M. Smith sold 3,524 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $188.91, for a total transaction of $665,718.84. Following the transaction, the chief financial officer now owns 53,389 shares of the company’s stock, valued at approximately $10,085,715.99. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 value of $510,412.59. Following the transaction, the chief financial officer now owns 50,662 shares of the company’s stock, valued at $9,482,406.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rodney M. Smith sold 3,524 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $188.91, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 16,251 shares of company stock valued at $2,957,531. 0.24% of the stock is currently owned by insiders.

American Tower Trading Up 0.3 %

Shares of AMT stock traded up $0.46 on Monday, hitting $180.60. 451,898 shares of the stock traded hands, compared to its average volume of 2,057,319. The firm’s 50-day moving average price is $184.36 and its two-hundred day moving average price is $191.89. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $84.19 billion, a PE ratio of 87.02, a PEG ratio of 1.36 and a beta of 0.58. American Tower Co. has a twelve month low of $172.55 and a twelve month high of $247.78.

Wall Street Analyst Weigh In

AMT has been the subject of several recent research reports. StockNews.com initiated coverage on shares of American Tower in a report on Thursday, August 17th. They set a “hold” rating for the company. Morgan Stanley cut their target price on shares of American Tower from $213.00 to $212.00 and set an “equal weight” rating for the company in a report on Thursday. Raymond James cut 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. BMO Capital Markets started coverage on shares of American Tower in a report on Thursday, July 13th. They issued an “outperform” rating and a $230.00 price target for the company. Finally, Wells Fargo & Company cut their price target on shares of American Tower from $245.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus 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.