Kintegral Advisory LLC Lowers Holdings in American Tower Co. (NYSE:AMT)

Kintegral Advisory LLC reduced its position in shares of American Tower Co. (NYSE:AMT) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,903 shares of the real estate investment trust’s stock after selling 114 shares during the quarter. Kintegral Advisory LLC’s holdings in American Tower were worth $3,509,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Allstate Corp grew its holdings 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 valued at $378,000 after purchasing an additional 53 shares during the period. McIlrath & Eck LLC raised its holdings in American Tower by 13.9% during the fourth 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 in the last quarter. Glassman Wealth Services raised its stake 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 acquiring an additional 56 shares in the last quarter. CFO4Life Group LLC lifted its holdings in shares of 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 purchasing an additional 57 shares during the last quarter. Finally, Choreo LLC lifted its stake in American Tower by 1.4% in the fourth 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 last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMT shares. Deutsche Bank Aktiengesellschaft boosted their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. 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. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. 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 report on Wednesday, July 31st. Finally, StockNews.com raised shares of American Tower from a “hold” rating to a “buy” 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. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average price target of $231.14.

American Tower Price Performance

Shares of AMT stock traded down $0.91 during trading hours on Wednesday, reaching $225.25. 1,105,495 shares of the company were exchanged, compared to its average volume of 2,328,631. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s fifty day moving average is $211.03 and its two-hundred day moving average is $197.22. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $236.13. The company has a market cap of $105.19 billion, a price-to-earnings ratio of 50.96, a P/E/G ratio of 1.48 and a beta of 0.81.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share 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 firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Sell-side analysts forecast that American Tower Co. will post 10.04 earnings per share for the current fiscal year.

Insider Activity at American Tower

In related news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Olivier Puech sold 10,005 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $12,070,789.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,227 shares of company stock valued at $8,497,458. 0.18% of the stock is owned by corporate insiders.

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.