American Tower Co. (REIT) (NYSE:AMT) Shares Sold by Fort Point Capital Partners LLC

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Fort Point Capital Partners LLC lowered its position in shares of American Tower Co. (REIT) (NYSE:AMT) by 13.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,236 shares of the real estate investment trust’s stock after selling 200 shares during the quarter. Fort Point Capital Partners LLC’s holdings in American Tower were worth $299,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Arkadios Wealth Advisors raised its position in shares of American Tower by 26.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 463 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 98 shares in the last quarter. NorthCoast Asset Management LLC grew its stake in shares of American Tower by 69.1% in the third quarter. NorthCoast Asset Management LLC now owns 3,456 shares of the real estate investment trust’s stock worth $836,000 after purchasing an additional 1,412 shares in the last quarter. Cape Cod Five Cents Savings Bank increased its holdings in shares of American Tower by 8.7% during the third quarter. Cape Cod Five Cents Savings Bank now owns 10,483 shares of the real estate investment trust’s stock valued at $2,534,000 after purchasing an additional 837 shares during the period. Lavaca Capital LLC bought a new stake in shares of American Tower during the third quarter valued at about $404,000. Finally, FinTrust Capital Advisors LLC lifted its holdings in American Tower by 48.6% in the third quarter. FinTrust Capital Advisors LLC now owns 740 shares of the real estate investment trust’s stock worth $179,000 after purchasing an additional 242 shares during the period. 79.94% of the stock is currently owned by institutional investors.

In other American Tower news, EVP Amit Sharma sold 18,440 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $258.94, for a total transaction of $4,774,853.60. Following the completion of the sale, the executive vice president now directly owns 231,689 shares in the company, valued at approximately $59,993,549.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven O. Vondran sold 1,500 shares of American Tower stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $248.44, for a total value of $372,660.00. Following the transaction, the executive vice president now directly owns 23,724 shares in the company, valued at approximately $5,893,990.56. The disclosure for this sale can be found here. Insiders sold a total of 21,113 shares of company stock valued at $5,444,536 in the last ninety days. Company insiders own 0.65% of the company’s stock.

A number of research firms have commented on AMT. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $258.00 price target on the stock in a research report on Monday, October 19th. Oppenheimer assumed coverage on American Tower in a report on Tuesday, August 11th. They set a “buy” rating and a $290.00 target price on the stock. Wells Fargo & Company cut their target price on American Tower from $290.00 to $285.00 and set an “overweight” rating for the company in a research report on Wednesday, September 16th. Credit Suisse Group lifted their price target on American Tower from $300.00 to $301.00 and gave the company an “outperform” rating in a research report on Tuesday, November 3rd. Finally, Raymond James dropped their price objective on American Tower from $276.00 to $258.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 3rd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. American Tower presently has a consensus rating of “Buy” and a consensus target price of $276.67.

Shares of NYSE AMT traded down $5.77 during mid-day trading on Friday, hitting $232.66. 1,965,888 shares of the company traded hands, compared to its average volume of 2,037,449. American Tower Co. has a 1 year low of $174.32 and a 1 year high of $272.20. The stock has a market capitalization of $103.35 billion, a price-to-earnings ratio of 55.00, a PEG ratio of 1.84 and a beta of 0.31. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 5.73. The business has a 50 day moving average of $239.41 and a two-hundred day moving average of $248.94.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported $1.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.06). American Tower had a return on equity of 42.42% and a net margin of 24.08%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the business posted $1.93 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts anticipate that American Tower Co. will post 8.16 EPS for the current year.

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 approximately 181,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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