American Tower Co. (NYSE:AMT) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its position in shares of American Tower Co. (NYSE:AMT) by 14.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 507,723 shares of the real estate investment trust’s stock after selling 88,437 shares during the quarter. Pacer Advisors Inc. owned 0.11% of American Tower worth $98,468,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of American Tower by 1.6% during the 1st quarter. Wellington Management Group LLP now owns 13,452,478 shares of the real estate investment trust’s stock valued at $2,748,879,000 after acquiring an additional 213,815 shares during the period. Moneta Group Investment Advisors LLC increased its position in shares of American Tower by 101,474.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,474,342 shares of the real estate investment trust’s stock valued at $2,219,094,000 after buying an additional 10,464,030 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of American Tower by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 9,733,814 shares of the real estate investment trust’s stock worth $1,985,706,000 after buying an additional 131,933 shares during the period. Deutsche Bank AG lifted its position in shares of American Tower by 4.0% during the 1st quarter. Deutsche Bank AG now owns 7,325,350 shares of the real estate investment trust’s stock valued at $1,496,862,000 after buying an additional 284,470 shares in the last quarter. Finally, Morgan Stanley grew its stake in American Tower by 15.4% in the 4th quarter. Morgan Stanley now owns 7,231,486 shares of the real estate investment trust’s stock valued at $1,532,063,000 after acquiring an additional 962,800 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Down 0.8 %

AMT traded down $1.42 during trading hours on Tuesday, reaching $178.11. The company’s stock had a trading volume of 499,757 shares, compared to its average volume of 2,054,406. American Tower Co. has a fifty-two week low of $172.55 and a fifty-two week high of $245.85. The business’s 50-day moving average is $184.36 and its 200-day moving average is $191.89. The stock has a market cap of $83.03 billion, a PE ratio of 86.73, a P/E/G ratio of 1.35 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.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMT. BMO Capital Markets started coverage on shares of American Tower in a report on Thursday, July 13th. They set an “outperform” rating and a $230.00 price objective on the stock. StockNews.com initiated coverage on American Tower in a research note on Thursday, August 17th. They set a “hold” rating for the company. Barclays decreased their target price on American Tower from $233.00 to $228.00 and set an “overweight” rating on the stock in a research report on Monday, August 7th. Morgan Stanley dropped their price target on American Tower from $213.00 to $212.00 and set an “equal weight” rating for the company in a research report on Thursday, September 14th. Finally, Wells Fargo & Company lowered their target price on shares of American Tower from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 18th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $240.29.

Insider Activity

In other news, CFO Rodney M. Smith sold 3,524 shares of the company’s 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 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 accessible through the SEC website. In related news, CFO Rodney M. Smith sold 2,727 shares of the stock in a transaction dated Thursday, August 10th. The stock was 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 approximately $9,482,406.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Rodney M. Smith sold 3,524 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $188.91, for a total value of $665,718.84. Following 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. Insiders have sold a total of 16,251 shares of company stock valued at $2,957,531 in the last quarter. Insiders own 0.24% of the company’s stock.

About American Tower

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.