American Tower Corp (NYSE:AMT) is Virtus Alternative Investment Advisers Inc.’s 9th Largest Position

Virtus Alternative Investment Advisers Inc. lowered its stake in shares of American Tower Corp (NYSE:AMT) by 77.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 275 shares of the real estate investment trust’s stock after selling 966 shares during the period. American Tower accounts for 1.2% of Virtus Alternative Investment Advisers Inc.’s investment portfolio, making the stock its 9th biggest holding. Virtus Alternative Investment Advisers Inc.’s holdings in American Tower were worth $56,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of AMT. Cable Hill Partners LLC grew its stake in American Tower by 61.9% in the 1st quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 52 shares in the last quarter. Nelson Roberts Investment Advisors LLC purchased a new position in American Tower in the 2nd quarter valued at approximately $27,000. Next Capital Management LLC purchased a new position in American Tower in the 2nd quarter valued at approximately $31,000. CX Institutional grew its stake in American Tower by 54.9% in the 2nd quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 56 shares in the last quarter. Finally, Litman Gregory Asset Management LLC purchased a new position in American Tower in the 2nd quarter valued at approximately $33,000. Institutional investors own 92.56% of the company’s stock.

In other news, Director Craig Macnab sold 5,953 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly owns 14,341 shares in the company, valued at approximately $3,233,321.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela D. A. Reeve sold 4,167 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $240.80, for a total transaction of $1,003,413.60. Following the transaction, the director now owns 19,139 shares of the company’s stock, valued at $4,608,671.20. The disclosure for this sale can be found here. Insiders have sold a total of 135,354 shares of company stock valued at $28,232,160 over the last 90 days. Company insiders own 0.75% of the company’s stock.



Shares of AMT traded down $3.86 during mid-day trading on Friday, reaching $214.99. 126,627 shares of the stock traded hands, compared to its average volume of 1,690,541. The firm has a fifty day moving average price of $221.91 and a 200 day moving average price of $204.45. The company has a market cap of $95.71 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 1.75 and a beta of 0.47. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 4.13. American Tower Corp has a 1 year low of $140.40 and a 1 year high of $242.00.

American Tower (NYSE:AMT) last released its quarterly 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 analysts’ expectations 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 for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 earnings per share. On average, sell-side analysts anticipate that American Tower Corp will post 7.67 EPS for the current year.

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted 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. Citigroup lifted their price objective on shares of American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. KeyCorp lifted their price objective on shares of American Tower from $225.00 to $253.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a research note on Tuesday, August 20th. Finally, 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. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. American Tower presently has an average rating of “Hold” and a consensus price target of $205.87.

American Tower 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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