Capital Insight Partners LLC Grows Position in American Tower Co. (NYSE:AMT)

Capital Insight Partners LLC grew its position in shares of American Tower Co. (NYSE:AMT) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,997 shares of the real estate investment trust’s stock after purchasing an additional 60 shares during the quarter. Capital Insight Partners LLC’s holdings in American Tower were worth $583,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AMT. Norges Bank purchased a new stake in shares of American Tower during the 4th quarter worth about $1,051,898,000. Wellington Management Group LLP raised its holdings in American Tower by 21.9% in the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock worth $3,416,004,000 after purchasing an additional 2,839,570 shares during the period. Principal Financial Group Inc. boosted its position in American Tower by 36.2% during the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after purchasing an additional 2,336,501 shares in the last quarter. Edgewood Management LLC grew its holdings in American Tower by 46.2% in the fourth quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock valued at $1,076,352,000 after purchasing an additional 1,576,683 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after buying an additional 965,938 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 3.1 %

NYSE:AMT traded up $6.90 on Friday, hitting $227.00. The stock had a trading volume of 1,803,979 shares, compared to its average volume of 2,351,486. The company has a fifty day moving average price of $209.70 and a two-hundred day moving average price of $196.71. The stock has a market cap of $106.00 billion, a price-to-earnings ratio of 51.36, a PEG ratio of 1.48 and a beta of 0.81. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $236.13.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price target on the stock. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $226.00 to $248.00 in a research note on Wednesday, May 1st. BMO Capital Markets reiterated an “outperform” rating and set a $246.00 price objective (up from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. Scotiabank raised their target price on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $231.14.

Insider Activity at American Tower

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,227 shares of company stock worth $8,497,458. Company insiders own 0.18% 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.