American Tower Co. (NYSE:AMT) Shares Acquired by Sterling Investment Advisors Ltd.

Sterling Investment Advisors Ltd. grew its holdings in American Tower Co. (NYSE:AMT) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,911 shares of the real estate investment trust’s stock after buying an additional 344 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in American Tower were worth $3,287,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the 1st quarter valued at approximately $25,000. Gold Investment Management Ltd. purchased a new position in American Tower in the 4th quarter valued at approximately $28,000. Cultivar Capital Inc. purchased a new position in American Tower in the 2nd quarter valued at approximately $25,000. Private Wealth Management Group LLC purchased a new position in American Tower in the 4th quarter valued at approximately $31,000. Finally, Hobbs Group Advisors LLC purchased a new position in American Tower in the 2nd quarter valued at approximately $29,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was 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 document filed with the SEC, which is available through the SEC website. In related news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the transaction, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction 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 transaction, the chief accounting officer now owns 31,873 shares in the company, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 over the last quarter. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective for the company. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. TD Cowen raised their price objective on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Scotiabank raised their price objective on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets reissued an “outperform” rating and set a $246.00 price target (up previously from $225.00) on shares of American Tower in a research report on Wednesday, July 31st. Two equities 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 company. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $231.14.

American Tower Price Performance

Shares of NYSE:AMT opened at $233.64 on Friday. The company has a market cap of $109.10 billion, a P/E ratio of 52.86, a P/E/G ratio of 1.51 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $236.13. The business has a fifty day simple moving average of $215.72 and a 200-day simple moving average of $198.98.

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 analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. Equities research analysts forecast that American Tower Co. will post 10.05 EPS for the current year.

American Tower 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.