Nicola Wealth Management LTD. Buys 2,385 Shares of American Tower Co. (NYSE:AMT)

Nicola Wealth Management LTD. grew its stake in American Tower Co. (NYSE:AMT) by 53.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,881 shares of the real estate investment trust’s stock after acquiring an additional 2,385 shares during the period. Nicola Wealth Management LTD.’s holdings in American Tower were worth $1,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Fortis Capital Advisors LLC bought a new position in American Tower during the fourth quarter worth about $220,000. Savant Capital LLC lifted its position in American Tower by 2.8% during the fourth quarter. Savant Capital LLC now owns 4,750 shares of the real estate investment trust’s stock worth $1,025,000 after acquiring an additional 128 shares during the last quarter. Victory Capital Management Inc. lifted its position in American Tower by 2.5% during the fourth quarter. Victory Capital Management Inc. now owns 181,773 shares of the real estate investment trust’s stock worth $39,241,000 after acquiring an additional 4,485 shares during the last quarter. West Family Investments Inc. acquired a new stake in American Tower during the fourth quarter worth approximately $242,000. Finally, Commonwealth Equity Services LLC lifted its position in American Tower by 1.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 137,290 shares of the real estate investment trust’s stock worth $29,638,000 after acquiring an additional 1,476 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, 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 transaction of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares in the company, valued at $5,692,828.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. 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 over the last quarter. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of several research reports. Barclays cut their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Wells Fargo & Company boosted their price objective on shares of American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. TD Cowen boosted their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Scotiabank boosted their price objective on shares of 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, The Goldman Sachs Group began coverage on shares of American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $231.14.

American Tower Trading Up 0.2 %

Shares of American Tower stock traded up $0.54 during trading on Friday, hitting $224.06. The company’s stock had a trading volume of 1,796,764 shares, compared to its average volume of 2,323,528. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $236.13. The stock has a market cap of $104.63 billion, a price-to-earnings ratio of 50.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The stock has a 50-day moving average price of $212.85 and a two-hundred day moving average price of $197.82.

American Tower (NYSE:AMT) last released its 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). The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. American Tower’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 EPS. Equities research analysts anticipate that American Tower Co. will post 10.04 EPS for the current fiscal year.

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.