Kavar Capital Partners LLC Takes Position in American Tower Corp (NYSE:AMT)

Kavar Capital Partners LLC bought a new stake in shares of American Tower Corp (NYSE:AMT) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 229 shares of the real estate investment trust’s stock, valued at approximately $47,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its position in shares of American Tower by 3.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 60,475 shares of the real estate investment trust’s stock valued at $12,679,000 after purchasing an additional 2,271 shares during the last quarter. Hall Laurie J Trustee grew its position in American Tower by 13.3% in the 2nd quarter. Hall Laurie J Trustee now owns 425 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 50 shares during the last quarter. Advisory Services Network LLC grew its position in American Tower by 12.0% in the 2nd quarter. Advisory Services Network LLC now owns 10,180 shares of the real estate investment trust’s stock valued at $2,082,000 after acquiring an additional 1,094 shares during the last quarter. Coastal Investment Advisors Inc. grew its position in American Tower by 99.4% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,677 shares of the real estate investment trust’s stock valued at $341,000 after acquiring an additional 836 shares during the last quarter. Finally, Cape Cod Five Cents Savings Bank bought a new position in American Tower in the 2nd quarter valued at $1,148,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO James D. Taiclet, Jr. sold 57,438 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $201.40, for a total transaction of $11,568,013.20. Following the transaction, the chief executive officer now directly owns 255,414 shares of the company’s stock, valued at approximately $51,440,379.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO James D. Taiclet, Jr. sold 57,439 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $207.93, for a total value of $11,943,291.27. Following the transaction, the chief executive officer now directly owns 255,415 shares in the company, valued at $53,108,440.95. The disclosure for this sale can be found here. Insiders have sold a total of 191,020 shares of company stock worth $39,584,998 over the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

Several equities analysts have commented on AMT shares. Royal Bank of Canada upped their price objective on American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. UBS Group cut American Tower from a “buy” rating to a “neutral” rating and upped their target price for the stock from $195.00 to $222.00 in a report on Friday, June 7th. KeyCorp upped their target price on American Tower from $207.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. They noted that the move was a valuation call. SunTrust Banks upped their target price on American Tower to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $195.60.

Shares of NYSE AMT traded down $1.27 during mid-day trading on Friday, reaching $222.93. 1,678,300 shares of the company were exchanged, compared to its average volume of 1,717,225. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 4.13. The stock has a market cap of $96.89 billion, a price-to-earnings ratio of 27.90, a P/E/G ratio of 1.78 and a beta of 0.50. American Tower Corp has a 1 year low of $140.40 and a 1 year high of $225.43. The firm has a 50-day moving average of $211.15 and a 200 day moving average of $197.71.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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). American Tower had a return on equity of 24.75% and a net margin of 19.30%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the company earned $1.74 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that American Tower Corp will post 7.66 earnings per share 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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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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