Mitchell Sinkler & Starr PA Sells 99 Shares of American Tower Co. (NYSE:AMT)

Mitchell Sinkler & Starr PA decreased its position in American Tower Co. (NYSE:AMT) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,029 shares of the real estate investment trust’s stock after selling 99 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in American Tower were worth $638,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AMT. LPL Financial LLC raised its position in American Tower by 1.5% during the second quarter. LPL Financial LLC now owns 340,456 shares of the real estate investment trust’s stock valued at $66,178,000 after purchasing an additional 4,941 shares in the last quarter. Biltmore Family Office LLC raised its holdings in shares of American Tower by 6.9% in the 2nd quarter. Biltmore Family Office LLC now owns 1,163 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 75 shares during the last quarter. AGF Management Ltd. increased its stake in American Tower by 3.5% in the 2nd quarter. AGF Management Ltd. now owns 112,323 shares of the real estate investment trust’s stock valued at $21,833,000 after buying an additional 3,771 shares during the last quarter. Angeles Wealth Management LLC purchased a new stake in American Tower in the 2nd quarter valued at about $299,000. Finally, Carson Advisory Inc. purchased a new stake in shares of American Tower during the 2nd quarter worth approximately $235,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. TD Cowen raised their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Royal Bank of Canada upped their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. The Goldman Sachs Group started 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. Finally, Wells Fargo & Company increased 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. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $231.14.

Insider Transactions at American Tower

In other American Tower news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total value of $508,020.33. Following the completion of the sale, the chief accounting officer now owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Olivier Puech sold 10,005 shares of American Tower 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 sale, the executive vice president now directly owns 51,746 shares in the company, valued at $12,070,789.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following 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 have sold a total of 33,723 shares of company stock worth $7,795,397 in the last three months. Company insiders own 0.18% of the company’s stock.

American Tower Stock Up 1.8 %

Shares of American Tower stock opened at $242.82 on Wednesday. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. American Tower Co. has a one year low of $154.58 and a one year high of $243.56. The company has a market cap of $113.42 billion, a P/E ratio of 54.94, a PEG ratio of 1.57 and a beta of 0.83. The firm has a fifty day moving average of $218.46 and a two-hundred day moving average of $200.20.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business 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 revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.46 earnings per share. On average, analysts forecast that American Tower Co. will post 10.18 earnings per share for the current year.

American Tower Company 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.