Golden State Wealth Management LLC lowered its position in American Tower Co. (NYSE:AMT – Get Rating) by 21.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,945 shares of the real estate investment trust’s stock after selling 791 shares during the period. Golden State Wealth Management LLC’s holdings in American Tower were worth $740,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of AMT. Pinnacle Holdings LLC acquired a new stake in American Tower during the 1st quarter valued at $29,000. Covestor Ltd acquired a new stake in American Tower during the 4th quarter valued at $36,000. Rational Advisors LLC grew its holdings in American Tower by 70.2% during the 1st quarter. Rational Advisors LLC now owns 143 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 59 shares during the last quarter. IAG Wealth Partners LLC grew its holdings in American Tower by 84.5% during the 4th quarter. IAG Wealth Partners LLC now owns 131 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 60 shares during the last quarter. Finally, MCF Advisors LLC acquired a new stake in American Tower during the 1st quarter valued at $38,000. Institutional investors and hedge funds own 91.03% of the company’s stock.
American Tower Trading Down 1.1 %
NYSE:AMT opened at $251.82 on Thursday. The business’s 50-day moving average is $263.29 and its two-hundred day moving average is $253.13. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $117.24 billion, a PE ratio of 41.42, a price-to-earnings-growth ratio of 2.38 and a beta of 0.48. American Tower Co. has a 12 month low of $220.00 and a 12 month high of $298.00.
In other news, Director Robert D. Hormats sold 150 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $254.53, for a total transaction of $38,179.50. Following the completion of the sale, the director now directly owns 6,571 shares in the company, valued at $1,672,516.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on AMT shares. Citigroup lowered their target price on American Tower from $300.00 to $290.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Credit Suisse Group initiated coverage on American Tower in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $313.00 price target on the stock. Bank of America assumed coverage on American Tower in a research note on Sunday, June 5th. They set a “buy” rating and a $315.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their target price on American Tower from $260.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, July 14th. Finally, KeyCorp increased their target price on American Tower from $283.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $290.93.
American Tower 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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