Patron Partners LLC Has $630,000 Stock Position in American Tower Co. (NYSE:AMT)

Patron Partners LLC grew its holdings in American Tower Co. (NYSE:AMT) by 10.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,241 shares of the real estate investment trust’s stock after acquiring an additional 312 shares during the quarter. Patron Partners LLC’s holdings in American Tower were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the 1st quarter worth about $25,000. Gold Investment Management Ltd. bought a new position in American Tower during the fourth quarter valued at about $28,000. Cultivar Capital Inc. bought a new stake in shares of American Tower in the 2nd quarter worth approximately $25,000. Private Wealth Management Group LLC acquired a new stake in shares of American Tower during the 4th quarter worth approximately $31,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of American Tower during the second quarter valued at approximately $29,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Scotiabank lifted their price target on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 31st. BMO Capital Markets restated an “outperform” rating and set a $246.00 price target (up previously from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group started coverage on American Tower in a research report on Monday, July 1st. They set a “buy” rating and a $230.00 target price for the company. Finally, StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $231.14.

Insider Activity at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction dated 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’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 transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock worth $7,795,397 over the last 90 days. Insiders own 0.18% of the company’s stock.

American Tower Trading Up 1.1 %

Shares of NYSE AMT opened at $236.23 on Friday. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $236.44. The company has a 50-day moving average of $216.56 and a two-hundred day moving average of $199.32. The company has a market cap of $110.34 billion, a PE ratio of 53.45, a P/E/G ratio of 1.54 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 (NYSE:AMT) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 EPS. As a group, equities analysts expect that American Tower Co. will post 10.18 earnings per share for the current fiscal year.

About American Tower

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.