iA Global Asset Management Inc. Has $19.17 Million Position in American Tower Co. (NYSE:AMT)

iA Global Asset Management Inc. cut its holdings in American Tower Co. (NYSE:AMT) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,596 shares of the real estate investment trust’s stock after selling 8,142 shares during the quarter. iA Global Asset Management Inc.’s holdings in American Tower were worth $19,165,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allstate Corp raised its stake in shares of American Tower by 3.1% in the fourth quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock worth $378,000 after acquiring an additional 53 shares during the last quarter. McIlrath & Eck LLC raised its position in American Tower by 13.9% in the 4th quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 56 shares during the last quarter. Glassman Wealth Services lifted its holdings in American Tower by 4.7% during the 4th quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock worth $268,000 after buying an additional 56 shares in the last quarter. CFO4Life Group LLC boosted its position in American Tower by 5.4% in the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 57 shares during the last quarter. Finally, Choreo LLC increased its stake in shares of American Tower by 1.4% in the 4th quarter. Choreo LLC now owns 4,269 shares of the real estate investment trust’s stock valued at $922,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Barclays reduced their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $246.00 price objective (up from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group assumed coverage on shares of American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. 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’s stock. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $231.14.

Insiders Place Their Bets

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

American Tower Trading Up 0.2 %

Shares of AMT traded up $0.44 during trading hours on Friday, reaching $223.96. The stock had a trading volume of 1,796,762 shares, compared to its average volume of 2,323,528. The company has a market cap of $104.61 billion, a P/E ratio of 50.69, a P/E/G ratio of 1.52 and a beta of 0.81. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $236.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a 50-day moving average of $212.27 and a 200 day moving average of $197.59.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) 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 the consensus estimate of $2.82 billion. During the same quarter last year, the company earned $2.46 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts expect that American Tower Co. will post 10.04 earnings per share for the current fiscal year.

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.