GWM Advisors LLC Trims Stock Position in American Tower Corp (NYSE:AMT)

GWM Advisors LLC lowered its holdings in shares of American Tower Corp (NYSE:AMT) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,895 shares of the real estate investment trust’s stock after selling 1,112 shares during the quarter. American Tower makes up approximately 1.0% of GWM Advisors LLC’s holdings, making the stock its 15th biggest position. GWM Advisors LLC’s holdings in American Tower were worth $16,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI increased its holdings in American Tower by 136.6% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 34,931 shares of the real estate investment trust’s stock worth $7,142,000 after acquiring an additional 20,167 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in American Tower by 5.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 75,512 shares of the real estate investment trust’s stock worth $15,438,000 after purchasing an additional 3,774 shares during the period. Stock Yards Bank & Trust Co. boosted its stake in American Tower by 0.8% in the 2nd quarter. Stock Yards Bank & Trust Co. now owns 98,498 shares of the real estate investment trust’s stock worth $20,138,000 after purchasing an additional 804 shares during the period. Autus Asset Management LLC boosted its stake in American Tower by 45.4% in the 2nd quarter. Autus Asset Management LLC now owns 7,391 shares of the real estate investment trust’s stock worth $1,511,000 after purchasing an additional 2,309 shares during the period. Finally, Meridian Wealth Management LLC boosted its stake in American Tower by 56.3% in the 1st quarter. Meridian Wealth Management LLC now owns 4,133 shares of the real estate investment trust’s stock worth $814,000 after purchasing an additional 1,488 shares during the period. 93.22% of the stock is owned by hedge funds and other institutional investors.

Several research firms have weighed in on AMT. KeyCorp restated an “overweight” rating and issued a $253.00 price target (up from $225.00) on shares of American Tower in a research note on Monday. Royal Bank of Canada upped their price target on American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. Morgan Stanley upped their price target on American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. JPMorgan Chase & Co. upped their price target on American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, SunTrust Banks upped their price target on American Tower to $230.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. American Tower has an average rating of “Hold” and an average price target of $197.47.

In other news, CEO James D. Taiclet, Jr. sold 57,438 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $211.89, for a total transaction of $12,170,537.82. Following the completion of the transaction, the chief executive officer now directly owns 255,414 shares in the company, valued at approximately $54,119,672.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David E. Sharbutt sold 2,039 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $217.59, for a total value of $443,666.01. Following the completion of the sale, the director now owns 3,936 shares of the company’s stock, valued at $856,434.24. The disclosure for this sale can be found here. Insiders have sold a total of 191,020 shares of company stock valued at $39,584,998 over the last quarter. Corporate insiders own 0.75% of the company’s stock.

Shares of NYSE AMT traded up $0.89 during midday trading on Monday, reaching $223.82. 389,153 shares of the stock traded hands, compared to its average volume of 1,741,907. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market capitalization of $99.25 billion, a PE ratio of 28.01, a P/E/G ratio of 1.82 and a beta of 0.50. American Tower Corp has a one year low of $140.40 and a one year high of $225.43. The company’s 50 day moving average is $211.15 and its 200 day moving average is $197.71.

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

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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