Bramshill Investments LLC purchased a new stake in American Tower Co. (NYSE:AMT – Get Rating) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,165 shares of the real estate investment trust’s stock, valued at approximately $1,046,000.
A number of other hedge funds have also recently bought and sold shares of AMT. Personal Capital Advisors Corp lifted its position in shares of American Tower by 1.7% in the first quarter. Personal Capital Advisors Corp now owns 2,510 shares of the real estate investment trust’s stock valued at $631,000 after buying an additional 43 shares during the last quarter. Cohen & Steers Inc. lifted its position in shares of American Tower by 27.5% in the first quarter. Cohen & Steers Inc. now owns 19,680,735 shares of the real estate investment trust’s stock valued at $4,944,107,000 after buying an additional 4,239,151 shares during the last quarter. Invesco Ltd. lifted its position in shares of American Tower by 5.7% in the first quarter. Invesco Ltd. now owns 4,519,131 shares of the real estate investment trust’s stock valued at $1,135,297,000 after buying an additional 243,719 shares during the last quarter. PFS Investments Inc. lifted its position in shares of American Tower by 31.5% in the first quarter. PFS Investments Inc. now owns 41,716 shares of the real estate investment trust’s stock valued at $10,480,000 after buying an additional 9,996 shares during the last quarter. Finally, Siemens Fonds Invest GmbH lifted its position in shares of American Tower by 0.6% in the first quarter. Siemens Fonds Invest GmbH now owns 20,055 shares of the real estate investment trust’s stock valued at $5,038,000 after buying an additional 123 shares during the last quarter. 91.03% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
AMT has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on American Tower from $268.00 to $252.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 20th. KeyCorp lifted their price target on American Tower from $283.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 2nd. Citigroup dropped their price target on American Tower from $300.00 to $290.00 and set a “buy” rating for the company in a report on Monday, July 18th. Credit Suisse Group started coverage on American Tower in a report on Wednesday, June 22nd. They set an “outperform” rating and a $313.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on American Tower from $282.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $290.93.
American Tower Trading Down 0.0 %
Shares of AMT opened at $261.59 on Friday. American Tower Co. has a 52-week low of $220.00 and a 52-week high of $298.42. The business’s fifty day moving average is $263.18 and its 200-day moving average is $252.75. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $121.79 billion, a price-to-earnings ratio of 43.02, a PEG ratio of 2.38 and a beta of 0.48.
American Tower (NYSE:AMT – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.99. American Tower had a return on equity of 28.93% and a net margin of 27.23%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the company posted $2.42 EPS. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. Equities analysts anticipate that American Tower Co. will post 9.47 EPS for the current fiscal year.
American Tower Company Profile
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
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