Gallacher Capital Management LLC Acquires 272 Shares of American Tower Co. (NYSE:AMT)

Gallacher Capital Management LLC increased its stake in shares of American Tower Co. (NYSE:AMT) by 12.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,438 shares of the real estate investment trust’s stock after buying an additional 272 shares during the period. Gallacher Capital Management LLC’s holdings in American Tower were worth $474,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Fortis Capital Advisors LLC bought a new position in shares of American Tower in the 4th quarter valued at about $220,000. Accretive Wealth Partners LLC grew its position in shares of American Tower by 9.4% in the 4th quarter. Accretive Wealth Partners LLC now owns 4,435 shares of the real estate investment trust’s stock valued at $958,000 after purchasing an additional 380 shares during the period. Aveo Capital Partners LLC bought a new stake in American Tower during the 4th quarter worth approximately $344,000. Gryphon Financial Partners LLC raised its holdings in American Tower by 17.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 10,950 shares of the real estate investment trust’s stock worth $2,472,000 after buying an additional 1,620 shares during the period. Finally, Wealthspire Advisors LLC lifted its stake in American Tower by 23.3% in the fourth quarter. Wealthspire Advisors LLC now owns 1,695 shares of the real estate investment trust’s stock valued at $366,000 after buying an additional 320 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Activity at American Tower

In other news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $14,223,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at $12,070,789.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,723 shares of company stock worth $7,795,397. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $236.16 on Friday. The company has a market cap of $110.31 billion, a PE ratio of 53.43, a price-to-earnings-growth ratio of 1.54 and a beta of 0.83. The firm has a 50-day moving average of $216.56 and a 200-day moving average of $199.39. American Tower Co. has a one year low of $154.58 and a one year high of $236.44. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 EPS. As a group, equities analysts forecast that American Tower Co. will post 10.18 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMT. Royal Bank of Canada increased their price objective on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their price target on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. BMO Capital Markets restated an “outperform” rating and issued a $246.00 target price (up previously from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. TD Cowen upped their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $231.14.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.