Whittier Trust Co. of Nevada Inc. Lowers Holdings in American Tower Co. (NYSE:AMT)

Whittier Trust Co. of Nevada Inc. trimmed its holdings in American Tower Co. (NYSE:AMT) by 8.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,398 shares of the real estate investment trust’s stock after selling 854 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in American Tower were worth $1,827,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Anchor Capital Advisors LLC lifted its position in shares of American Tower by 38.1% in the fourth quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock worth $16,542,000 after buying an additional 21,139 shares in the last quarter. Meyer Handelman Co. purchased a new stake in shares of American Tower in the first quarter worth about $801,000. TD Asset Management Inc lifted its position in shares of American Tower by 23.2% in the fourth quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock worth $59,459,000 after buying an additional 51,882 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after buying an additional 4,660 shares in the last quarter. Finally, Berkeley Capital Partners LLC lifted its position in shares of American Tower by 3.5% in the fourth quarter. Berkeley Capital Partners LLC now owns 3,895 shares of the real estate investment trust’s stock worth $841,000 after buying an additional 130 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares in the company, valued at $12,070,789.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the transaction, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total transaction of $508,020.33. Following the completion of the sale, the chief accounting officer now directly owns 31,873 shares of the company’s stock, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,227 shares of company stock valued at $8,497,458. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AMT shares. Barclays decreased their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, TD Cowen upped their price objective on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $231.14.

American Tower Trading Down 1.6 %

NYSE:AMT traded down $3.64 during midday trading on Thursday, hitting $221.61. The stock had a trading volume of 702,966 shares, compared to its average volume of 2,318,897. American Tower Co. has a one year low of $154.58 and a one year high of $236.13. The company has a market capitalization of $103.51 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 1.52 and a beta of 0.81. The stock has a 50-day moving average of $211.03 and a 200 day moving average of $197.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $2.46 EPS. As a group, sell-side analysts forecast that American Tower Co. will post 10.04 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.