Moneta Group Investment Advisors LLC Increases Stock Holdings in American Tower Corp (NYSE:AMT)

Moneta Group Investment Advisors LLC grew its stake in shares of American Tower Corp (NYSE:AMT) by 4,963.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,236 shares of the real estate investment trust’s stock after purchasing an additional 136,486 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in American Tower were worth $563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in shares of 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 valued at $5,978,017,000 after purchasing an additional 610,821 shares during the period. FMR LLC lifted its stake in American Tower by 13.3% in the first quarter. FMR LLC now owns 22,818,504 shares of the real estate investment trust’s stock valued at $4,496,615,000 after buying an additional 2,673,794 shares during the last quarter. Akre Capital Management LLC boosted its holdings in shares of American Tower by 1.7% in the first quarter. Akre Capital Management LLC now owns 7,186,828 shares of the real estate investment trust’s stock valued at $1,416,236,000 after acquiring an additional 119,400 shares during the period. Northern Trust Corp boosted its holdings in shares of American Tower by 1.5% in the second quarter. Northern Trust Corp now owns 6,772,952 shares of the real estate investment trust’s stock valued at $1,384,730,000 after acquiring an additional 96,999 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of 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 acquiring an additional 525,601 shares during the last quarter. 92.56% of the stock is currently owned by institutional investors.

In other American Tower news, Director David E. Sharbutt sold 2,039 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 4,167 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $240.80, for a total value of $1,003,413.60. Following the transaction, the director now owns 19,139 shares in the company, valued at approximately $4,608,671.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,354 shares of company stock valued at $28,232,160. 0.75% of the stock is owned by insiders.



A number of brokerages have recently commented on AMT. KeyCorp lifted their target price on shares of American Tower from $225.00 to $253.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Citigroup raised their price objective on shares of American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Morgan Stanley lifted 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. Finally, Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 target price for the company in a report on Tuesday, August 20th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $205.87.

AMT traded down $2.61 during trading on Wednesday, hitting $213.60. The stock had a trading volume of 1,955,616 shares, compared to its average volume of 1,600,885. 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 $99.16 billion, a P/E ratio of 26.73, a PEG ratio of 1.82 and a beta of 0.47. The company’s 50-day moving average price is $221.75 and its 200 day moving average price is $204.26. American Tower Corp has a twelve month low of $140.40 and a twelve month high of $242.00.

American Tower (NYSE:AMT) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $1.83 billion. During the same quarter last year, the business posted $1.74 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that American Tower Corp will post 7.67 earnings per share for the current fiscal year.

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.

Read More: What is the Russell 2000 Index?

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.