Commons Capital LLC Boosts Holdings in American Tower Co. (NYSE:AMT)

Commons Capital LLC grew its holdings in American Tower Co. (NYSE:AMT) by 18.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,933 shares of the real estate investment trust’s stock after acquiring an additional 775 shares during the period. American Tower accounts for 1.2% of Commons Capital LLC’s portfolio, making the stock its 19th largest holding. Commons Capital LLC’s holdings in American Tower were worth $959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fortis Capital Advisors LLC purchased a new stake in shares of American Tower in the fourth quarter worth $220,000. Accretive Wealth Partners LLC raised its holdings in American Tower by 9.4% during the fourth quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock valued at $958,000 after acquiring an additional 380 shares during the period. Aveo Capital Partners LLC purchased a new position in shares of American Tower in the fourth quarter valued at about $344,000. Merit Financial Group LLC boosted its stake in shares of American Tower by 9.1% in the fourth quarter. Merit Financial Group LLC now owns 2,219 shares of the real estate investment trust’s stock worth $479,000 after acquiring an additional 186 shares during the period. Finally, Apollon Wealth Management LLC grew its position in shares of American Tower by 45.4% during the fourth quarter. Apollon Wealth Management LLC now owns 9,329 shares of the real estate investment trust’s stock worth $2,014,000 after purchasing an additional 2,911 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Scotiabank boosted their price target on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. TD Cowen lifted their target price on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada lifted their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Two equities research 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’s stock. Based on 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 0.9 %

Shares of NYSE:AMT opened at $232.55 on Thursday. The firm has a market capitalization of $108.60 billion, a PE ratio of 52.61, a price-to-earnings-growth ratio of 1.51 and a beta of 0.83. The business has a 50 day simple moving average of $214.95 and a two-hundred day simple moving average of $198.74. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $236.13. 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 (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the company earned $2.46 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that American Tower Co. will post 10.05 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares of the company’s stock, valued at $14,223,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the 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 directly 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 can be accessed through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock worth $7,795,397 in the last three months. Corporate 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.