Wedbush Securities Inc. Acquires 190 Shares of American Tower Corp (NYSE:AMT)

Wedbush Securities Inc. boosted its position in shares of American Tower Corp (NYSE:AMT) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,881 shares of the real estate investment trust’s stock after buying an additional 190 shares during the quarter. Wedbush Securities Inc.’s holdings in American Tower were worth $794,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMT. FMR LLC boosted its stake in American Tower by 13.3% during the first quarter. FMR LLC now owns 22,818,504 shares of the real estate investment trust’s stock worth $4,496,615,000 after buying an additional 2,673,794 shares during the period. Jennison Associates LLC boosted its stake in American Tower by 28.3% during the first quarter. Jennison Associates LLC now owns 3,697,620 shares of the real estate investment trust’s stock worth $728,653,000 after buying an additional 816,380 shares during the period. BlackRock Inc. boosted its stake in American Tower by 2.1% during the first quarter. BlackRock Inc. now owns 30,336,022 shares of the real estate investment trust’s stock worth $5,978,017,000 after buying an additional 610,821 shares during the period. Geode Capital Management LLC boosted its stake in 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 buying an additional 525,601 shares during the period. Finally, Waverton Investment Management Ltd boosted its stake in American Tower by 882.3% during the first quarter. Waverton Investment Management Ltd now owns 427,933 shares of the real estate investment trust’s stock worth $84,328,000 after buying an additional 384,368 shares during the period. 93.68% of the stock is owned by institutional investors.

In other news, CEO James D. Taiclet, Jr. sold 57,438 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $201.40, for a total transaction of $11,568,013.20. Following the transaction, the chief executive officer now owns 255,414 shares in the company, valued at $51,440,379.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David E. Sharbutt sold 2,039 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $217.59, for a total transaction of $443,666.01. Following the transaction, the director now owns 3,936 shares in the company, valued at approximately $856,434.24. The disclosure for this sale can be found here. Insiders sold 191,020 shares of company stock valued at $39,584,998 over the last quarter. 0.75% of the stock is currently owned by corporate insiders.

American Tower stock traded up $3.93 during trading hours on Thursday, reaching $222.81. The stock had a trading volume of 291,704 shares, compared to its average volume of 1,630,207. The company has a market capitalization of $98.41 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 1.81 and a beta of 0.50. 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 stock has a 50 day moving average of $210.52. American Tower Corp has a 52 week low of $140.40 and a 52 week high of $224.71.

American Tower (NYSE:AMT) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.91). The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.74 earnings per share. On average, equities analysts anticipate that American Tower Corp will post 7.66 earnings per share for the current fiscal year.

Several research analysts have commented on AMT shares. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Morgan Stanley lifted their price objective on shares of American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. SunTrust Banks lifted their price objective on shares of American Tower to $230.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. UBS Group lowered shares of American Tower from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $195.00 to $222.00 in a research note on Friday, June 7th. Finally, Royal Bank of Canada lifted their price objective on shares of American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. American Tower presently has a consensus rating of “Hold” and an average price target of $195.60.

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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