American Tower Co. (NYSE:AMT) Stock Holdings Cut by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co lessened its position in American Tower Co. (NYSE:AMT) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,164 shares of the real estate investment trust’s stock after selling 449 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in American Tower were worth $5,280,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMT. Northwest Investment Counselors LLC acquired a new stake in American Tower in the 1st quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in American Tower during the second quarter valued at approximately $25,000. Gold Investment Management Ltd. bought a new stake in American Tower during the fourth quarter worth approximately $28,000. Hobbs Group Advisors LLC acquired a new position in American Tower in the second quarter worth approximately $29,000. Finally, SOA Wealth Advisors LLC. bought a new position in shares of American Tower in the first quarter valued at $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the sale, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The disclosure for this sale can be found here. Insiders sold 37,227 shares of company stock valued at $8,497,458 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

AMT opened at $224.06 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $236.13. The stock has a fifty day moving average price of $212.85 and a 200 day moving average price of $197.82. The stock has a market cap of $104.65 billion, a price-to-earnings ratio of 50.69, a PEG ratio of 1.51 and a beta of 0.81.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (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 firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts forecast that American Tower Co. will post 10.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on AMT. BMO Capital Markets reissued an “outperform” rating and set a $246.00 price objective (up from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. Scotiabank lifted their price target on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.14.

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.