Catalytic Wealth RIA LLC increased its position in shares of American Tower Co. (NYSE:AMT – Free Report) by 150.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,866 shares of the real estate investment trust’s stock after purchasing an additional 3,527 shares during the period. Catalytic Wealth RIA LLC’s holdings in American Tower were worth $1,140,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the 1st quarter valued at approximately $25,000. Gold Investment Management Ltd. purchased a new stake in American Tower in the fourth quarter valued at $28,000. Cultivar Capital Inc. acquired a new position in shares of American Tower in the 2nd quarter valued at $25,000. Private Wealth Management Group LLC purchased a new position in shares of American Tower during the 4th quarter worth $31,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of American Tower during the 2nd quarter worth about $29,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Olivier Puech sold 10,005 shares of the company’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 completion of the transaction, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction on 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 directly owns 31,873 shares in the company, valued at $7,424,177.89. The disclosure for this sale can be found here. Insiders sold 37,227 shares of company stock valued at $8,497,458 in the last ninety days. Insiders own 0.18% of the company’s stock.
American Tower Stock Up 0.2 %
American Tower (NYSE:AMT – Get Free Report) last released its quarterly earnings data 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 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% on a year-over-year basis. During the same period last year, the firm posted $2.46 earnings per share. As a group, equities research analysts predict that American Tower Co. will post 10.05 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. StockNews.com upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. TD Cowen upped their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. increased their target price on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. 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.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $231.14.
Read Our Latest Stock Analysis on American Tower
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.
Recommended Stories
- Five stocks we like better than American Tower
- How to Invest in Small Cap Stocks
- Don’t Overlook Campbell Soup: Here’s What Could Drive Its Stock
- Roth IRA Calculator: Calculate Your Potential Returns
- Birkenstock’s Sudden Slide—Why It Might Be Your Next Big Win
- What is the S&P 500 and How It is Distinct from Other Indexes
- Why Dell Can Continue Winning in AI and Beyond
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMT – Free Report).
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.