Wagner Bowman Management Corp Has $1.54 Million Stake in American Tower Corp (NYSE:AMT)

Wagner Bowman Management Corp decreased its position in American Tower Corp (NYSE:AMT) by 10.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,544 shares of the real estate investment trust’s stock after selling 874 shares during the period. Wagner Bowman Management Corp’s holdings in American Tower were worth $1,542,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMT. Hall Laurie J Trustee raised its holdings in shares of American Tower by 13.3% during the second quarter. Hall Laurie J Trustee now owns 425 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 50 shares during the period. Cable Hill Partners LLC raised its holdings in shares of American Tower by 61.9% during the first quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 52 shares during the period. Reilly Financial Advisors LLC raised its holdings in shares of American Tower by 15.3% during the first quarter. Reilly Financial Advisors LLC now owns 406 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 54 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of American Tower by 3.9% during the second quarter. Sequoia Financial Advisors LLC now owns 1,433 shares of the real estate investment trust’s stock valued at $293,000 after purchasing an additional 54 shares during the period. Finally, CX Institutional raised its holdings in shares of American Tower by 54.9% during the second quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 93.68% of the company’s stock.

In other American Tower news, 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 value of $443,666.01. Following the completion of the sale, the director now directly owns 3,936 shares of the company’s stock, valued at approximately $856,434.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 255,414 shares of the company’s stock, valued at $54,119,672.46. The disclosure for this sale can be found here. Insiders sold a total of 191,020 shares of company stock valued at $39,584,998 over the last ninety days. 0.75% of the stock is currently owned by insiders.



Shares of NYSE:AMT traded down $1.10 during midday trading on Friday, hitting $223.10. 972,457 shares of the company’s stock were exchanged, compared to its average volume of 1,682,329. 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 50 day moving average price of $210.83 and a 200-day moving average price of $197.58. The company has a market cap of $97.88 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 1.80 and a beta of 0.50. American Tower Corp has a 12 month low of $140.40 and a 12 month high of $224.71.

American Tower (NYSE:AMT) last issued 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 Zacks’ 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 firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the company posted $1.74 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts anticipate that American Tower Corp will post 7.66 EPS for the current fiscal year.

Several brokerages have recently weighed in on AMT. KeyCorp upped their price objective on shares of American Tower from $207.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. They noted that the move was a valuation call. Morgan Stanley boosted their target price on shares of American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Monday, May 20th. UBS Group downgraded shares of American Tower from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $195.00 to $222.00 in a research report on Friday, June 7th. Royal Bank of Canada boosted their target price on shares of American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Finally, SunTrust Banks boosted their target price on shares of American Tower to $230.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. American Tower currently has a consensus rating of “Hold” and an average target price of $195.60.

American Tower Company Profile

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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