Gideon Capital Advisors Inc. Takes Position in American Tower Corp (AMT)

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Gideon Capital Advisors Inc. bought a new stake in shares of American Tower Corp (NYSE:AMT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,415 shares of the real estate investment trust’s stock, valued at approximately $492,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wallington Asset Management LLC raised its stake in American Tower by 0.4% during the 2nd quarter. Wallington Asset Management LLC now owns 82,040 shares of the real estate investment trust’s stock valued at $11,828,000 after purchasing an additional 340 shares during the period. Peregrine Capital Management LLC grew its holdings in American Tower by 0.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 110,820 shares of the real estate investment trust’s stock valued at $15,977,000 after buying an additional 351 shares in the last quarter. Warren Averett Asset Management LLC grew its holdings in American Tower by 9.0% during the 2nd quarter. Warren Averett Asset Management LLC now owns 4,498 shares of the real estate investment trust’s stock valued at $648,000 after buying an additional 370 shares in the last quarter. Creative Planning grew its holdings in American Tower by 1.2% during the 2nd quarter. Creative Planning now owns 30,790 shares of the real estate investment trust’s stock valued at $4,439,000 after buying an additional 375 shares in the last quarter. Finally, Jag Capital Management LLC grew its holdings in American Tower by 5.8% during the 2nd quarter. Jag Capital Management LLC now owns 7,595 shares of the real estate investment trust’s stock valued at $1,095,000 after buying an additional 418 shares in the last quarter. 92.20% of the stock is currently owned by institutional investors.

AMT has been the subject of several research analyst reports. JPMorgan Chase & Co. cut American Tower from an “overweight” rating to a “neutral” rating and set a $150.00 price target for the company. in a report on Tuesday, July 10th. Zacks Investment Research cut American Tower from a “hold” rating to a “sell” rating in a report on Friday, July 6th. ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Morgan Stanley raised their price target on American Tower from $154.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday. Finally, SunTrust Banks restated a “buy” rating and set a $167.00 price target on shares of American Tower in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $161.94.

Shares of American Tower stock opened at $151.17 on Friday. The company has a market capitalization of $65.76 billion, a PE ratio of 23.69, a P/E/G ratio of 1.59 and a beta of 0.83. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.66 and a quick ratio of 0.66. American Tower Corp has a one year low of $130.37 and a one year high of $155.28.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 EPS for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($1.04). The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.75 billion. American Tower had a return on equity of 16.72% and a net margin of 16.34%. American Tower’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 EPS. research analysts forecast that American Tower Corp will post 7.1 earnings per share for the current year.

In other news, CEO James D. Taiclet, Jr. sold 43,843 shares of American Tower stock in a transaction that occurred on Tuesday, May 29th. The stock was sold at an average price of $135.53, for a total value of $5,942,041.79. Following the completion of the transaction, the chief executive officer now owns 223,227 shares in the company, valued at approximately $30,253,955.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Pamela D. A. Reeve sold 7,152 shares of American Tower stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $148.92, for a total value of $1,065,075.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,810 shares of company stock valued at $28,393,839. Company insiders own 0.87% of the company’s stock.

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 over 160,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.

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

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