BLB&B Advisors LLC boosted its stake in shares of American Tower Corp (NYSE:AMT) by 13.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,208 shares of the real estate investment trust’s stock after acquiring an additional 1,957 shares during the quarter. BLB&B Advisors LLC’s holdings in American Tower were worth $3,314,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Canton Hathaway LLC acquired a new stake in shares of American Tower during the first quarter worth $26,000. Cable Hill Partners LLC boosted its holdings in American Tower by 61.9% in the first quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 52 shares during the last quarter. Nelson Roberts Investment Advisors LLC acquired a new position in American Tower in the second quarter valued at $27,000. Spectrum Management Group Inc. acquired a new position in American Tower in the first quarter valued at $29,000. Finally, CX Institutional boosted its holdings in American Tower by 54.9% in the second quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 56 shares during the last quarter. 93.68% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on the company. Royal Bank of Canada lifted their target price on American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. boosted their price objective on American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. SunTrust Banks boosted their price objective on American Tower to $230.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley upped their target price on American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. Finally, KeyCorp upped their target price on American Tower from $207.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. They noted that the move was a valuation call. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $195.60.
AMT opened at $224.20 on Friday. American Tower Corp has a one year low of $140.40 and a one year high of $224.71. The stock has a market capitalization of $97.88 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 1.80 and a beta of 0.50. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.49 and a quick ratio of 0.49. The company’s 50 day simple moving average is $210.83 and its 200-day simple moving average is $197.58.
American Tower (NYSE:AMT) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.91). The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.74 earnings per share. As a group, analysts anticipate that American Tower Corp will post 7.66 EPS for the current year.
American Tower Company 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 approximately 171,000 communications sites.
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