Stokes Capital Advisors LLC Buys 5,488 Shares of American Tower Co. (NYSE:AMT)

Stokes Capital Advisors LLC grew its stake in shares of American Tower Co. (NYSE:AMT) by 45.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,678 shares of the real estate investment trust’s stock after purchasing an additional 5,488 shares during the period. Stokes Capital Advisors LLC’s holdings in American Tower were worth $3,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AMT. Level Four Advisory Services LLC raised its position in shares of American Tower by 40.4% in the 1st quarter. Level Four Advisory Services LLC now owns 5,192 shares of the real estate investment trust’s stock worth $1,061,000 after acquiring an additional 1,493 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of American Tower by 1.2% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 84,207 shares of the real estate investment trust’s stock worth $17,207,000 after buying an additional 1,026 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in American Tower by 2.7% in the second quarter. Maryland State Retirement & Pension System now owns 527,792 shares of the real estate investment trust’s stock worth $102,360,000 after acquiring an additional 14,111 shares in the last quarter. HB Wealth Management LLC grew its stake 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 acquiring an additional 695 shares during the last quarter. Finally, Peak Financial Advisors LLC purchased a new position in shares of American Tower in the 2nd quarter worth about $351,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

American Tower Stock Performance

American Tower stock traded up $1.06 during trading on Monday, reaching $181.20. The company had a trading volume of 324,786 shares, compared to its average volume of 2,056,693. The firm’s 50-day simple moving average is $184.36 and its 200 day simple moving average is $191.89. American Tower Co. has a 52 week low of $172.55 and a 52 week 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. The firm has a market capitalization of $84.47 billion, a price-to-earnings ratio of 87.02, a price-to-earnings-growth ratio of 1.36 and a beta of 0.58.

Analysts Set New Price Targets

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

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 2,727 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $187.17, for a total transaction of $510,412.59. Following the completion of the transaction, the chief financial officer now directly owns 50,662 shares in the company, valued at approximately $9,482,406.54. 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 American Tower stock in a transaction that occurred on 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 owns 50,662 shares of the company’s stock, valued at $9,482,406.54. 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 company’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 completion of the transaction, the chief financial officer now owns 53,389 shares of the company’s stock, valued at $10,085,715.99. The disclosure for this sale can be found here. Insiders have sold 16,251 shares of company stock valued at $2,957,531 over the last quarter. 0.24% of the stock is currently owned by company insiders.

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.