American National Bank Purchases 133 Shares of American Tower Co. (NYSE:AMT)

American National Bank boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 18.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 849 shares of the real estate investment trust’s stock after purchasing an additional 133 shares during the period. American National Bank’s holdings in American Tower were worth $165,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in American Tower during the first quarter worth about $25,000. Gold Investment Management Ltd. bought a new position in shares of American Tower in the 4th quarter valued at $28,000. Hobbs Group Advisors LLC bought a new stake in American Tower during the 2nd quarter worth $29,000. SOA Wealth Advisors LLC. acquired a new stake in shares of American Tower during the first quarter valued at about $30,000. Finally, Private Wealth Management Group LLC acquired a new position in shares of American Tower in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of a number of research reports. Scotiabank boosted their target price on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. The Goldman Sachs Group began coverage on shares of American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 price target on the stock. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. TD Cowen upped their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Raymond James raised American Tower from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $231.14.

American Tower Stock Performance

Shares of NYSE AMT traded down $0.27 during mid-day trading on Thursday, reaching $219.22. 897,394 shares of the company’s stock were exchanged, compared to its average volume of 2,349,077. The firm has a 50-day moving average price of $208.64 and a two-hundred day moving average price of $196.29. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $102.37 billion, a price-to-earnings ratio of 49.66, a price-to-earnings-growth ratio of 1.48 and a beta of 0.81. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $236.13.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Analysts predict that American Tower Co. will post 10.04 EPS for the current year.

Insider Activity

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares in the company, valued at approximately $5,692,828.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The disclosure for this sale can be found here. Insiders have sold 37,227 shares of company stock valued at $8,497,458 in the last 90 days. Insiders own 0.18% 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.