American Tower Co. (NYSE:AMT) Shares Sold by Cypress Capital Group

Cypress Capital Group lowered its stake in shares of American Tower Co. (NYSE:AMT) by 0.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,005 shares of the real estate investment trust’s stock after selling 82 shares during the quarter. Cypress Capital Group’s holdings in American Tower were worth $1,750,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in American Tower by 1.6% during the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after buying an additional 965,938 shares during the last quarter. Cohen & Steers Inc. boosted its stake in American Tower by 3.7% during the fourth quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock worth $3,549,366,000 after buying an additional 583,892 shares during the last quarter. Wellington Management Group LLP boosted its stake in American Tower by 21.9% during the fourth 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 buying an additional 2,839,570 shares during the last quarter. Principal Financial Group Inc. raised its position in American Tower by 36.2% in the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock valued at $1,737,760,000 after purchasing an additional 2,336,501 shares during the period. Finally, Akre Capital Management LLC raised its position in American Tower by 0.5% in the fourth quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock valued at $1,468,977,000 after purchasing an additional 36,375 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research analyst reports. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. TD Cowen lifted their target price on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. Wells Fargo & Company lifted their target price on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group assumed coverage on American Tower in a report on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.14.

American Tower Stock Up 3.1 %

NYSE AMT traded up $6.90 during trading hours on Friday, hitting $227.00. 1,803,979 shares of the company were exchanged, compared to its average volume of 2,597,717. The company has a 50 day moving average of $209.70 and a two-hundred day moving average of $196.77. 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 52-week low of $154.58 and a 52-week high of $236.13. The firm has a market cap of $106.03 billion, a price-to-earnings ratio of 51.36, a PEG ratio of 1.48 and a beta of 0.81.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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). The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 EPS. Equities research analysts anticipate that American Tower Co. will post 10.04 earnings per share for the current year.

Insider Transactions at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was 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 of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 37,227 shares of company stock valued at $8,497,458. 0.18% of the stock is currently owned by corporate insiders.

American Tower 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.