Arete Wealth Advisors LLC purchased a new position in American Tower Co. (NYSE:AMT – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,952 shares of the real estate investment trust’s stock, valued at approximately $603,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Personal Capital Advisors Corp boosted its holdings in 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 worth $631,000 after acquiring an additional 43 shares in the last quarter. Cigna Investments Inc. New boosted its holdings in American Tower by 0.8% in the fourth quarter. Cigna Investments Inc. New now owns 5,767 shares of the real estate investment trust’s stock worth $1,222,000 after acquiring an additional 48 shares in the last quarter. Lumature Wealth Partners LLC boosted its holdings in American Tower by 40.3% in the first quarter. Lumature Wealth Partners LLC now owns 174 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 50 shares in the last quarter. NBT Bank N A NY boosted its holdings in American Tower by 4.1% in the first quarter. NBT Bank N A NY now owns 1,304 shares of the real estate investment trust’s stock worth $266,000 after acquiring an additional 51 shares in the last quarter. Finally, Inscription Capital LLC raised its stake in shares of American Tower by 0.5% in the first quarter. Inscription Capital LLC now owns 9,460 shares of the real estate investment trust’s stock worth $1,933,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.
Insider Buying and Selling
In related news, CFO Rodney M. Smith sold 3,524 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $188.91, for a total transaction of $665,718.84. Following the completion of the transaction, the chief financial officer now directly owns 53,389 shares in the company, valued at $10,085,715.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Rodney M. Smith sold 3,524 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $188.91, for a total value of $665,718.84. Following the completion of the transaction, the chief financial officer now directly owns 53,389 shares in the company, valued at approximately $10,085,715.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Rodney M. Smith sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $178.14, for a total value of $1,781,400.00. Following the completion of the transaction, the chief financial officer now owns 50,662 shares of the company’s stock, valued at $9,024,928.68. The disclosure for this sale can be found here. Insiders sold a total of 16,251 shares of company stock worth $2,957,531 over the last ninety days. 0.24% of the stock is owned by corporate insiders.
American Tower Price Performance
Analyst Ratings Changes
AMT has been the subject of several analyst reports. Morgan Stanley lowered their price objective on American Tower from $213.00 to $212.00 and set an “equal weight” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price objective on American Tower from $245.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, July 18th. Barclays lowered their price objective on American Tower from $233.00 to $228.00 and set an “overweight” rating for the company in a research note on Monday, August 7th. Raymond James lowered their price objective on American Tower from $211.00 to $205.00 and set an “outperform” rating for the company in a research note on Tuesday, August 22nd. Finally, BMO Capital Markets initiated coverage on American Tower in a research report on Thursday, July 13th. They issued an “outperform” rating and a $230.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $240.29.
Check Out Our Latest Research Report on American Tower
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 nearly 226,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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