Loudon Investment Management LLC Has $2.29 Million Stock Position in American Tower Co. (NYSE:AMT)

Loudon Investment Management LLC grew its position in shares of American Tower Co. (NYSE:AMT) by 1.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,783 shares of the real estate investment trust’s stock after acquiring an additional 115 shares during the period. American Tower accounts for approximately 1.3% of Loudon Investment Management LLC’s investment portfolio, making the stock its 26th biggest holding. Loudon Investment Management LLC’s holdings in American Tower were worth $2,290,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in American Tower during the first quarter worth $25,000. Cultivar Capital Inc. bought a new stake in shares of American Tower in the second quarter valued at about $25,000. Gold Investment Management Ltd. acquired a new position in American Tower in the 4th quarter valued at approximately $28,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower in the second quarter valued at $29,000. Finally, SOA Wealth Advisors LLC. bought a new position in American Tower in the first quarter worth $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 1.1 %

AMT stock traded up $2.52 during midday trading on Friday, reaching $236.16. The stock had a trading volume of 2,749,994 shares, compared to its average volume of 2,325,473. 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 twelve month low of $154.58 and a twelve month high of $236.44. The firm has a market cap of $110.31 billion, a price-to-earnings ratio of 53.45, a PEG ratio of 1.54 and a beta of 0.83. The business has a fifty day simple moving average of $216.56 and a two-hundred day simple moving average of $199.32.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (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 the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 earnings per share. As a group, research analysts expect that American Tower Co. will post 10.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMT shares. Scotiabank increased their price objective on shares of American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com raised American Tower from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, TD Cowen increased their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $231.14.

Insider Buying and Selling

In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now owns 31,873 shares in the company, valued at $7,424,177.89. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The transaction 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 that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the transaction, the chief accounting officer now directly 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 three months. Company insiders own 0.18% of the company’s stock.

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.