Oregon Public Employees Retirement Fund increased its position in shares of American Tower Corp (NYSE:AMT) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,208 shares of the real estate investment trust’s stock after acquiring an additional 2,310 shares during the period. Oregon Public Employees Retirement Fund’s holdings in American Tower were worth $6,950,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in AMT. Kaizen Advisory LLC boosted its position in shares of American Tower by 140.6% in the 2nd quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock valued at $145,000 after purchasing an additional 589 shares during the period. RMR Advisors LLC acquired a new position in shares of American Tower in the 2nd quarter valued at $173,000. Sun Life Financial INC boosted its position in shares of American Tower by 311.3% in the 2nd quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 906 shares during the period. Signaturefd LLC acquired a new position in shares of American Tower in the 1st quarter valued at $182,000. Finally, Centaurus Financial Inc. acquired a new position in shares of American Tower in the 1st quarter valued at $197,000. 93.29% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the company. Argus increased their price target on American Tower from $154.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, August 20th. Morgan Stanley increased their price target on American Tower from $154.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, August 16th. Guggenheim reiterated a “hold” rating and issued a $160.00 price target on shares of American Tower in a research report on Tuesday, August 7th. Oppenheimer increased their price target on American Tower from $167.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 1st. Finally, Cowen reiterated a “buy” rating and issued a $161.00 price target on shares of American Tower in a research report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. American Tower currently has an average rating of “Buy” and an average target price of $162.20.
Shares of NYSE AMT opened at $148.09 on Friday. American Tower Corp has a one year low of $130.37 and a one year high of $155.28. The stock has a market cap of $65.07 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 1.57 and a beta of 0.82. 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 (NYSE:AMT) last announced its quarterly earnings data 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). American Tower had a return on equity of 16.72% and a net margin of 16.34%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the business posted $1.58 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. equities analysts expect that American Tower Corp will post 7.1 EPS for the current year.
In other news, Director David E. Sharbutt sold 1,321 shares of American Tower stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $150.48, for a total transaction of $198,784.08. Following the completion of the sale, the director now directly owns 4,781 shares in the company, valued at approximately $719,444.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman James D. Taiclet, Jr. sold 43,808 shares of American Tower stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $150.65, for a total value of $6,599,675.20. The disclosure for this sale can be found here. Insiders have sold a total of 154,967 shares of company stock valued at $22,451,797 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.
About American Tower
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 170,000 communications sites.
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