Wells Fargo & Company MN Trims Stake in American Tower Corp (NYSE:AMT)

Wells Fargo & Company MN reduced its position in American Tower Corp (NYSE:AMT) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,715,130 shares of the real estate investment trust’s stock after selling 92,878 shares during the quarter. Wells Fargo & Company MN owned 0.84% of American Tower worth $759,557,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AMT. Nelson Roberts Investment Advisors LLC purchased a new position in shares of American Tower during the second quarter worth approximately $27,000. Cable Hill Partners LLC boosted its stake 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 in the last quarter. Next Capital Management LLC bought a new position in shares of American Tower during the second quarter valued at approximately $31,000. CX Institutional boosted its stake 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 in the last quarter. Finally, Litman Gregory Asset Management LLC bought a new position in shares of American Tower during the second quarter valued at approximately $33,000. 93.22% of the stock is currently owned by institutional investors.

In other news, EVP Olivier Puech sold 8,347 shares of American Tower stock in a transaction on Monday, June 10th. The shares were sold at an average price of $210.27, for a total transaction of $1,755,123.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James D. Taiclet, Jr. sold 57,439 shares of American Tower stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $207.93, for a total transaction of $11,943,291.27. Following the sale, the chief executive officer now owns 255,415 shares of the company’s stock, valued at $53,108,440.95. The disclosure for this sale can be found here. Insiders have sold 196,973 shares of company stock valued at $40,927,162 over the last quarter. Insiders own 0.75% of the company’s stock.



AMT traded down $1.94 during trading on Friday, hitting $226.57. The stock had a trading volume of 1,089,317 shares, compared to its average volume of 1,731,599. The company has a market capitalization of $100.66 billion, a PE ratio of 28.36, a PEG ratio of 1.85 and a beta of 0.50. American Tower Corp has a twelve month low of $140.40 and a twelve month 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 stock has a 50 day simple moving average of $213.92 and a two-hundred day simple moving average of $199.22.

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

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Morgan Stanley increased their price objective on shares of American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a research note on Monday, May 20th. Royal Bank of Canada increased their price objective on shares of American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. SunTrust Banks increased their price objective on shares of American Tower to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group downgraded shares of American Tower from a “buy” rating to a “neutral” rating and raised their target price for the company from $195.00 to $222.00 in a research note on Friday, June 7th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $202.27.

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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