Infrastructure Capital Advisors LLC Makes New Investment in American Tower Co. (NYSE:AMT)

Infrastructure Capital Advisors LLC bought a new position in American Tower Co. (NYSE:AMT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,013 shares of the real estate investment trust’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J.Safra Asset Management Corp lifted its stake in shares of American Tower by 629.4% in the 4th quarter. J.Safra Asset Management Corp now owns 124 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 107 shares during the period. Elequin Securities LLC acquired a new stake in shares of American Tower in the 4th quarter worth approximately $28,000. Pinnacle Holdings LLC acquired a new stake in shares of American Tower in the 1st quarter worth approximately $29,000. Eagle Bay Advisors LLC acquired a new stake in shares of American Tower in the 2nd quarter worth approximately $30,000. Finally, Sittner & Nelson LLC lifted its stake in shares of American Tower by 151.7% in the 1st quarter. Sittner & Nelson LLC now owns 151 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 91 shares during the period. Institutional investors own 89.29% of the company’s stock.

American Tower Stock Down 0.9 %

American Tower stock opened at $180.89 on Friday. The firm has a market cap of $84.32 billion, a PE ratio of 87.39, a P/E/G ratio of 1.37 and a beta of 0.58. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s 50 day moving average price is $186.01 and its two-hundred day moving average price is $192.56. American Tower Co. has a twelve month low of $172.55 and a twelve month high of $265.56.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMT shares. BMO Capital Markets initiated coverage on shares of American Tower in a research note on Thursday, July 13th. They issued an “outperform” rating and a $230.00 price target for the company. Barclays cut their target price on shares of American Tower from $233.00 to $228.00 and set an “overweight” rating for the company in a research note on Monday, August 7th. Royal Bank of Canada cut their target price on shares of American Tower from $233.00 to $230.00 and set an “outperform” rating for the company in a research note on Tuesday, August 1st. Wells Fargo & Company cut their target price on shares of American Tower from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, July 18th. Finally, Raymond James cut their target price on shares of American Tower from $211.00 to $205.00 and set an “outperform” rating for the company in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $240.50.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 3,524 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $188.91, for a total transaction of $665,718.84. Following the transaction, the chief financial officer now owns 53,389 shares in the company, valued at approximately $10,085,715.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Rodney M. Smith sold 3,524 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $188.91, for a total transaction of $665,718.84. Following the transaction, the chief financial officer now owns 53,389 shares in the company, valued at approximately $10,085,715.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Rodney M. Smith sold 2,727 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $187.17, for a total transaction of $510,412.59. Following the sale, the chief financial officer now directly owns 50,662 shares of the company’s stock, valued at $9,482,406.54. The disclosure for this sale can be found here. Insiders have sold a total of 16,251 shares of company stock worth $2,957,531 in the last 90 days. 0.24% of the stock is owned by insiders.

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 nearly 226,000 communications sites and a highly interconnected footprint of U.S. data center facilities.