Duality Advisers LP Purchases Shares of 4,207 American Tower Co. (NYSE:AMT)

Posted by Defense World Staff on Sep 18th, 2023

Duality Advisers LP purchased a new position in American Tower Co. (NYSE:AMT – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,207 shares of the real estate investment trust’s stock, valued at approximately $860,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Gries Financial LLC lifted its position in American Tower by 21.9% during the first quarter. Gries Financial LLC now owns 13,731 shares of the real estate investment trust’s stock valued at $2,806,000 after purchasing an additional 2,466 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in American Tower by 16.4% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 21,161 shares of the real estate investment trust’s stock worth $4,324,000 after purchasing an additional 2,977 shares during the last quarter. Atomi Financial Group Inc. purchased a new position in shares of American Tower in the 1st quarter worth about $459,000. EP Wealth Advisors LLC bought a new position in shares of American Tower during the 1st quarter valued at about $46,080,000. Finally, Level Four Advisory Services LLC raised its holdings in shares of American Tower by 40.4% during the 1st quarter. Level Four Advisory Services LLC now owns 5,192 shares of the real estate investment trust’s stock valued at $1,061,000 after buying an additional 1,493 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Raymond James reduced their price target on shares of American Tower from $211.00 to $205.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 22nd. Morgan Stanley lowered their price target on shares of American Tower from $213.00 to $212.00 and set an “equal weight” rating for the company in a research note on Thursday. BMO Capital Markets started coverage on American Tower in a research note on Thursday, July 13th. They set an “outperform” rating and a $230.00 price objective on the stock. Barclays lowered their target price 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. Finally, Wells Fargo & Company reduced their price target on American Tower from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $240.29.

Read Our Latest Report on American Tower

American Tower Stock Performance

NYSE:AMT opened at $180.14 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.96. The firm’s fifty day simple moving average is $184.36 and its 200 day simple moving average is $191.89. The stock has a market cap of $83.97 billion, a P/E ratio of 87.02, a price-to-earnings-growth ratio of 1.36 and a beta of 0.58. American Tower Co. has a twelve month low of $172.55 and a twelve month high of $247.78.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 10,000 shares of the business’s 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 transaction, the chief financial officer now owns 50,662 shares in the company, valued at $9,024,928.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other American Tower news, CFO Rodney M. Smith sold 3,524 shares of the firm’s stock in a transaction on 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 owns 53,389 shares of the company’s stock, valued at $10,085,715.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $1,781,400.00. Following the completion of the sale, the chief financial officer now directly owns 50,662 shares in the company, valued at $9,024,928.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,251 shares of company stock valued at $2,957,531. Company insiders own 0.24% of the company’s stock.

About American Tower

(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.