Prospera Financial Services Inc raised its stake in shares of American Tower Corp (NYSE:AMT) by 40.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,110 shares of the real estate investment trust’s stock after buying an additional 2,355 shares during the quarter. Prospera Financial Services Inc’s holdings in American Tower were worth $2,097,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of AMT. Fisher Asset Management LLC acquired a new position in shares of American Tower during the 2nd quarter worth about $455,454,000. Jennison Associates LLC lifted its holdings in shares of American Tower by 109.5% during the 1st quarter. Jennison Associates LLC now owns 3,255,974 shares of the real estate investment trust’s stock valued at $708,988,000 after purchasing an additional 1,701,953 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in shares of American Tower by 10.6% during the 1st quarter. Cohen & Steers Inc. now owns 9,985,028 shares of the real estate investment trust’s stock valued at $2,174,240,000 after purchasing an additional 953,901 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of American Tower by 36.3% during the 1st quarter. Principal Financial Group Inc. now owns 3,461,258 shares of the real estate investment trust’s stock valued at $753,686,000 after purchasing an additional 921,155 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of American Tower by 10.2% during the 1st quarter. Nuveen Asset Management LLC now owns 4,617,751 shares of the real estate investment trust’s stock valued at $1,005,516,000 after purchasing an additional 426,382 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.
Several research firms have recently weighed in on AMT. KeyCorp cut American Tower from an “overweight” rating to a “sector weight” rating in a report on Monday, July 13th. Wells Fargo & Co lifted their price objective on American Tower from $272.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Barclays began coverage on American Tower in a report on Wednesday, July 15th. They set an “overweight” rating and a $296.00 price objective on the stock. Zacks Investment Research upgraded American Tower from a “sell” rating to a “hold” rating and set a $273.00 price objective on the stock in a report on Monday, June 29th. Finally, Oppenheimer initiated coverage on American Tower in a research note on Tuesday, August 11th. They issued a “buy” rating and a $290.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $273.08.
Shares of AMT stock traded up $2.86 on Thursday, hitting $248.09. The company had a trading volume of 43,893 shares, compared to its average volume of 1,427,590. The stock’s 50-day moving average is $258.83 and its two-hundred day moving average is $245.95. American Tower Corp has a twelve month low of $174.32 and a twelve month high of $272.20. The firm has a market cap of $112.02 billion, a P/E ratio of 58.60, a P/E/G ratio of 2.20 and a beta of 0.44. The company has a debt-to-equity ratio of 6.88, a quick ratio of 0.61 and a current ratio of 0.61.
American Tower (NYSE:AMT) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $1.00 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.99). American Tower had a return on equity of 39.62% and a net margin of 24.70%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the business earned $2.01 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts predict that American Tower Corp will post 7.98 EPS for the current year.
In related news, EVP Steven O. Vondran sold 1,334 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $259.00, for a total transaction of $345,506.00. Following the completion of the sale, the executive vice president now owns 22,224 shares of the company’s stock, valued at $5,756,016. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David E. Sharbutt sold 900 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $258.92, for a total value of $233,028.00. Following the sale, the director now directly owns 1,736 shares of the company’s stock, valued at approximately $449,485.12. The disclosure for this sale can be found here. Insiders have sold 8,115 shares of company stock valued at $2,130,071 in the last ninety days. 0.65% of the stock is currently owned by 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 approximately 171,000 communications sites.
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.