American Tower Corp (NYSE:AMT) Shares Sold by L & S Advisors Inc

L & S Advisors Inc lowered its holdings in shares of American Tower Corp (NYSE:AMT) by 58.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,160 shares of the real estate investment trust’s stock after selling 35,880 shares during the period. L & S Advisors Inc’s holdings in American Tower were worth $5,144,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Comerica Securities Inc. increased its holdings in American Tower by 3.0% during the 4th quarter. Comerica Securities Inc. now owns 3,029 shares of the real estate investment trust’s stock valued at $482,000 after acquiring an additional 87 shares in the last quarter. Geode Capital Management LLC grew its position in shares of American Tower by 11.1% during the fourth quarter. Geode Capital Management LLC now owns 5,244,004 shares of the real estate investment trust’s stock worth $827,966,000 after acquiring an additional 525,601 shares during the last quarter. Cornerstone Advisors Inc. grew its position in shares of American Tower by 6.5% during the first quarter. Cornerstone Advisors Inc. now owns 1,505 shares of the real estate investment trust’s stock worth $297,000 after acquiring an additional 92 shares during the last quarter. First Allied Advisory Services Inc. grew its position in shares of American Tower by 25.6% during the first quarter. First Allied Advisory Services Inc. now owns 7,526 shares of the real estate investment trust’s stock worth $1,486,000 after acquiring an additional 1,536 shares during the last quarter. Finally, Cetera Advisors LLC grew its position in shares of American Tower by 36.2% during the first quarter. Cetera Advisors LLC now owns 6,789 shares of the real estate investment trust’s stock worth $1,339,000 after acquiring an additional 1,805 shares during the last quarter. Hedge funds and other institutional investors own 92.56% of the company’s stock.

Shares of NYSE AMT opened at $217.50 on Friday. American Tower Corp has a twelve month low of $140.40 and a twelve month high of $242.00. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 4.13. The company has a market capitalization of $95.71 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 1.75 and a beta of 0.47. The firm has a 50-day moving average of $221.91 and a two-hundred day moving average of $204.45.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.91). American Tower had a net margin of 19.30% and a return on equity of 24.75%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the company posted $1.74 earnings per share. American Tower’s revenue was up 6.1% compared to the same quarter last year. As a group, research analysts predict that American Tower Corp will post 7.67 earnings per share for the current year.

In other American Tower news, Director Craig Macnab sold 5,953 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $225.46, for a total transaction of $1,342,163.38. Following the completion of the sale, the director now directly owns 14,341 shares of the company’s stock, valued at $3,233,321.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Olivier Puech sold 8,219 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $204.81, for a total transaction of $1,683,333.39. Following the sale, the executive vice president now directly owns 23,288 shares of the company’s stock, valued at $4,769,615.28. The disclosure for this sale can be found here. Insiders sold a total of 135,354 shares of company stock valued at $28,232,160 over the last three months. 0.75% of the stock is owned by corporate insiders.

AMT has been the subject of several recent research reports. Citigroup upped their price target on shares of American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upped their price target on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. KeyCorp upped their price objective on shares of American Tower from $225.00 to $253.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. SunTrust Banks upped their price objective on shares of American Tower to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a report on Tuesday, August 20th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $205.87.

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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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