United Services Automobile Association Sells 272 Shares of American Tower Co. (NYSE:AMT)

United Services Automobile Association trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,406 shares of the real estate investment trust’s stock after selling 272 shares during the quarter. United Services Automobile Association’s holdings in American Tower were worth $2,606,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Vanguard Group Inc. boosted its stake in American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after buying an additional 965,938 shares in the last quarter. Cohen & Steers Inc. boosted its position in American Tower by 3.7% in the fourth quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock valued at $3,549,366,000 after buying an additional 583,892 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of American Tower by 21.9% during the fourth quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock worth $3,416,004,000 after buying an additional 2,839,570 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of American Tower by 36.2% during the first quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock worth $1,737,760,000 after buying an additional 2,336,501 shares in the last quarter. Finally, Akre Capital Management LLC lifted its stake in shares of American Tower by 0.5% in the 4th quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock valued at $1,468,977,000 after acquiring an additional 36,375 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other American Tower news, EVP Olivier Puech sold 10,005 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The disclosure for this sale can be found here. Insiders have sold 33,723 shares of company stock valued at $7,795,397 in the last three months. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Up 1.1 %

Shares of NYSE AMT opened at $238.69 on Tuesday. The firm has a fifty day simple moving average of $217.45 and a two-hundred day simple moving average of $199.83. The firm has a market capitalization of $111.46 billion, a PE ratio of 54.00, a price-to-earnings-growth ratio of 1.57 and a beta of 0.83. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $239.21.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.52). The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 EPS. Equities analysts expect that American Tower Co. will post 10.18 earnings per share for the current year.

Wall Street Analyst Weigh In

AMT has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Wells Fargo & Company raised their target price on American Tower from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank upped their price target on American Tower from $223.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 31st. Finally, Barclays lowered their price objective on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $231.14.

American Tower 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.