Koa Wealth Management LLC Has $3.27 Million Holdings in American Tower Co. (NYSE:AMT)

Koa Wealth Management LLC lifted its stake in shares of American Tower Co. (NYSE:AMT) by 24.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,801 shares of the real estate investment trust’s stock after purchasing an additional 3,327 shares during the quarter. American Tower accounts for about 2.8% of Koa Wealth Management LLC’s portfolio, making the stock its 10th largest position. Koa Wealth Management LLC’s holdings in American Tower were worth $3,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Cross Staff Investments Inc increased its stake in shares of American Tower by 5.1% in the fourth quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after buying an additional 244 shares during the period. Anchor Capital Advisors LLC increased its position in American Tower by 38.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after acquiring an additional 21,139 shares during the period. Meyer Handelman Co. bought a new position in shares of American Tower during the first quarter valued at $801,000. TD Asset Management Inc lifted its holdings in shares of American Tower by 23.2% during the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after purchasing an additional 51,882 shares during the period. Finally, Kingsview Wealth Management LLC grew its stake in shares of American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after purchasing an additional 4,660 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Up 0.3 %

Shares of NYSE AMT traded up $0.61 during trading on Thursday, hitting $220.10. 1,594,506 shares of the company traded hands, compared to its average volume of 2,353,380. The firm has a market capitalization of $102.78 billion, a price-to-earnings ratio of 49.66, a P/E/G ratio of 1.48 and a beta of 0.81. The business’s fifty day moving average is $208.64 and its 200 day moving average is $196.29. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $236.13.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period last year, the company posted $2.46 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that American Tower Co. will post 10.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Sanjay Goel sold 3,504 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The disclosure for this sale can be found here. Insiders have sold a total of 37,227 shares of company stock worth $8,497,458 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Scotiabank raised their price objective on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their price target on shares of American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group initiated coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $231.14.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.