Mid Atlantic Financial Management Inc. ADV Acquires 117 Shares of American Tower Corp (NYSE:AMT)

Mid Atlantic Financial Management Inc. ADV grew its holdings in shares of American Tower Corp (NYSE:AMT) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,420 shares of the real estate investment trust’s stock after purchasing an additional 117 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in American Tower were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AMT. FMR LLC raised its holdings in shares of American Tower by 13.3% during the 1st quarter. FMR LLC now owns 22,818,504 shares of the real estate investment trust’s stock valued at $4,496,615,000 after purchasing an additional 2,673,794 shares in the last quarter. Jennison Associates LLC raised its holdings in American Tower by 28.3% in the 1st quarter. Jennison Associates LLC now owns 3,697,620 shares of the real estate investment trust’s stock worth $728,653,000 after acquiring an additional 816,380 shares during the period. BlackRock Inc. raised its holdings in American Tower by 2.1% in the 1st quarter. BlackRock Inc. now owns 30,336,022 shares of the real estate investment trust’s stock worth $5,978,017,000 after acquiring an additional 610,821 shares during the period. Geode Capital Management LLC raised its holdings in American Tower by 11.1% in the 4th quarter. Geode Capital Management LLC now owns 5,244,004 shares of the real estate investment trust’s stock worth $827,966,000 after acquiring an additional 525,601 shares during the period. Finally, California Public Employees Retirement System raised its holdings in American Tower by 22.9% in the 1st quarter. California Public Employees Retirement System now owns 1,730,895 shares of the real estate investment trust’s stock worth $341,090,000 after acquiring an additional 322,963 shares during the period. Institutional investors and hedge funds own 93.22% of the company’s stock.

Shares of NYSE:AMT traded down $1.94 on Friday, hitting $226.57. 1,089,317 shares of the company were exchanged, compared to its average volume of 1,731,599. The company’s 50 day moving average price is $213.92 and its two-hundred day moving average price is $199.22. American Tower Corp has a one year low of $140.40 and a one year high of $231.64. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market capitalization of $100.66 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.85 and a beta of 0.50.

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

In other news, EVP Olivier Puech sold 8,347 shares of American Tower stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $210.27, for a total transaction of $1,755,123.69. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Craig Macnab sold 5,953 shares of American Tower stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $225.46, for a total transaction of $1,342,163.38. Following the sale, the director now owns 14,341 shares in the company, valued at $3,233,321.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,973 shares of company stock worth $40,927,162. Insiders own 0.75% of the company’s stock.

Several research analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. lifted their target price on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. KeyCorp lifted their target price on shares of American Tower from $225.00 to $253.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. SunTrust Banks lifted their target price on shares of American Tower to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, UBS Group downgraded shares of American Tower from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $195.00 to $222.00 in a report on Friday, June 7th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. American Tower presently has a consensus rating of “Hold” and an average price target of $202.27.

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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