Toroso Investments LLC Buys 1,152 Shares of American Tower Co. (NYSE:AMT)

Posted by Defense World Staff on Sep 16th, 2023

Toroso Investments LLC lifted its stake in American Tower Co. (NYSE:AMT – Free Report) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,183 shares of the real estate investment trust’s stock after purchasing an additional 1,152 shares during the quarter. Toroso Investments LLC’s holdings in American Tower were worth $2,285,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. BCK Partners Inc. bought a new position in American Tower in the 1st quarter valued at approximately $2,892,000. Fairfield Bush & CO. lifted its position in American Tower by 138.9% in the 1st quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust’s stock valued at $711,000 after acquiring an additional 1,645 shares in the last quarter. Cetera Investment Advisers lifted its position in American Tower by 5.7% in the 1st quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust’s stock valued at $3,621,000 after acquiring an additional 771 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in American Tower by 33.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust’s stock valued at $757,000 after acquiring an additional 756 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in American Tower by 1.4% in the 1st quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust’s stock valued at $38,367,000 after acquiring an additional 2,071 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

American Tower Trading Down 0.6 %

Shares of AMT stock opened at $180.06 on Friday. American Tower Co. has a 52-week low of $172.55 and a 52-week high of $247.78. 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 has a market capitalization of $83.94 billion, a PE ratio of 86.99, a PEG ratio of 1.36 and a beta of 0.58. The stock has a fifty day simple moving average of $184.67 and a two-hundred day simple moving average of $192.06.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 2,727 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $187.17, for a total transaction of $510,412.59. Following the completion of the transaction, the chief financial officer now owns 50,662 shares of the company’s stock, valued at approximately $9,482,406.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other American Tower news, CFO Rodney M. Smith sold 10,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $178.14, for a total transaction 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 approximately $9,024,928.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rodney M. Smith sold 2,727 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $187.17, for a total transaction of $510,412.59. Following the transaction, the chief financial officer now directly owns 50,662 shares of the company’s stock, valued at approximately $9,482,406.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,251 shares of company stock worth $2,957,531. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley lowered their price target on American Tower from $213.00 to $212.00 and set an “equal weight” rating on the stock in a report on Thursday. Wells Fargo & Company lowered their price target on American Tower from $245.00 to $215.00 and set an “overweight” rating on the stock in a report on Tuesday, July 18th. Raymond James lowered their price target on American Tower from $211.00 to $205.00 and set an “outperform” rating on the stock in a report on Tuesday, August 22nd. StockNews.com assumed coverage on American Tower in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, BMO Capital Markets assumed coverage on American Tower in a report on Thursday, July 13th. They set an “outperform” rating and a $230.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.29.

View Our Latest Stock Report on American Tower

American Tower Company Profile

(Free Report)

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.