EP Wealth Advisors LLC lessened its stake in American Tower Corporation (NYSE:AMT – Free Report) by 60.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,956 shares of the real estate investment trust’s stock after selling 48,997 shares during the period. EP Wealth Advisors LLC’s holdings in American Tower were worth $5,227,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverwater Partners LLC grew its stake in shares of American Tower by 3.8% in the 4th quarter. Riverwater Partners LLC now owns 1,536 shares of the real estate investment trust’s stock valued at $270,000 after purchasing an additional 56 shares during the last quarter. Triumph Capital Management raised its stake in shares of American Tower by 37.3% during the fourth quarter. Triumph Capital Management now owns 206 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 56 shares during the last quarter. Twin City Private Wealth LLC lifted its holdings in shares of American Tower by 0.7% during the fourth quarter. Twin City Private Wealth LLC now owns 7,799 shares of the real estate investment trust’s stock worth $1,382,000 after purchasing an additional 58 shares during the period. Asset Advisory Group Inc. grew its position in American Tower by 3.0% in the 1st quarter. Asset Advisory Group Inc. now owns 2,072 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 60 shares during the last quarter. Finally, Argent Advisors Inc. grew its position in American Tower by 0.9% in the 4th quarter. Argent Advisors Inc. now owns 6,625 shares of the real estate investment trust’s stock valued at $1,163,000 after buying an additional 61 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.
American Tower Trading Up 0.4%
NYSE:AMT opened at $176.36 on Friday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a fifty day moving average price of $171.26 and a two-hundred day moving average price of $177.76. The stock has a market capitalization of $82.18 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 2.79 and a beta of 0.90.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Mizuho set a $208.00 price objective on shares of American Tower in a research report on Thursday. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $240.00 target price on shares of American Tower in a report on Wednesday, April 29th. Scotiabank reiterated an “outperform” rating on shares of American Tower in a research note on Wednesday, July 29th. Truist Financial reissued a “buy” rating and set a $207.00 price target (down from $208.00) on shares of American Tower in a report on Wednesday, August 12th. Finally, The Goldman Sachs Group set a $210.00 price objective on shares of American Tower in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average price target of $215.29.
Get Our Latest Analysis on American Tower
Insider Transactions at American Tower
In related news, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the sale, the chief financial officer owned 21,428 shares of the company’s stock, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ruth T. Dowling sold 1,106 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president owned 27,711 shares in the company, valued at $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is owned by insiders.
About American Tower
American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.
Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.
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