Roberts Wealth Advisors LLC Purchases 8,868 Shares of American Tower Co. (NYSE:AMT)

Roberts Wealth Advisors LLC grew its holdings in shares of American Tower Co. (NYSE:AMT) by 66.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,117 shares of the real estate investment trust’s stock after purchasing an additional 8,868 shares during the quarter. American Tower comprises approximately 1.9% of Roberts Wealth Advisors LLC’s portfolio, making the stock its 12th biggest holding. Roberts Wealth Advisors LLC’s holdings in American Tower were worth $4,289,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AMT. J.Safra Asset Management Corp increased its position in shares of 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 valued at $26,000 after buying an additional 107 shares during the period. Pinnacle Holdings LLC bought a new stake in American Tower during the 1st quarter worth approximately $29,000. Eagle Bay Advisors LLC purchased a new stake in American Tower in the 2nd quarter worth approximately $30,000. Sittner & Nelson LLC boosted its holdings in American Tower by 151.7% in the 1st quarter. Sittner & Nelson LLC now owns 151 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 91 shares during the period. Finally, Tucker Asset Management LLC purchased a new position in shares of American Tower during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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 stock was sold at an average price of $178.14, for a total transaction of $1,781,400.00. Following the completion of the transaction, the chief financial officer now owns 50,662 shares of the company’s stock, valued at approximately $9,024,928.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other American Tower news, CFO Rodney M. Smith sold 10,000 shares of American Tower stock in a transaction dated 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 transaction, the chief financial officer now directly owns 50,662 shares of the company’s stock, valued at $9,024,928.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rodney M. Smith sold 3,524 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $188.91, for a total transaction of $665,718.84. Following the sale, the chief financial officer now owns 53,389 shares in the company, valued at approximately $10,085,715.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,251 shares of company stock valued at $2,957,531. Corporate insiders own 0.24% of the company’s stock.

American Tower Stock Down 0.3 %

Shares of AMT stock traded down $0.60 during mid-day trading on Tuesday, reaching $178.93. 110,211 shares of the company’s stock traded hands, compared to its average volume of 2,052,419. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.96. The company’s 50-day moving average price is $184.36 and its 200-day moving average price is $191.89. The company has a market cap of $83.41 billion, a P/E ratio of 86.73, a P/E/G ratio of 1.35 and a beta of 0.58. American Tower Co. has a 12 month low of $172.55 and a 12 month high of $245.85.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMT. Morgan Stanley dropped their price objective on American Tower from $213.00 to $212.00 and set an “equal weight” rating for the company in a research note on Thursday, September 14th. BMO Capital Markets assumed coverage on shares of American Tower in a research report on Thursday, July 13th. They set an “outperform” rating and a $230.00 price objective on the stock. Wells Fargo & Company reduced their target price on American Tower from $245.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 18th. Royal Bank of Canada dropped their target price on American Tower from $233.00 to $230.00 and set an “outperform” rating for the company in a research report on Tuesday, August 1st. Finally, StockNews.com assumed coverage on shares of American Tower in a report on Thursday, August 17th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.