Kintegral Advisory LLC Sells 114 Shares of American Tower Co. (NYSE:AMT)

Kintegral Advisory LLC lowered its holdings in American Tower Co. (NYSE:AMT) by 0.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 17,903 shares of the real estate investment trust’s stock after selling 114 shares during the quarter. Kintegral Advisory LLC’s holdings in American Tower were worth $3,509,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Anchor Capital Advisors LLC boosted its position in American Tower by 38.1% during 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 purchasing an additional 21,139 shares in the last quarter. Meyer Handelman Co. purchased a new stake in American Tower during the 1st quarter worth about $801,000. TD Asset Management Inc boosted its holdings in shares of American Tower by 23.2% in the 4th quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after buying an additional 51,882 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in American Tower by 13.8% during the 1st 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 during the last quarter. Finally, Berkeley Capital Partners LLC raised its holdings 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 valued at $841,000 after buying an additional 130 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were 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 in the company, valued at approximately $7,424,177.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 document filed with the SEC, which is accessible through this link. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now owns 31,873 shares in the company, valued at $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. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. The Goldman Sachs Group began coverage on shares of American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 target price on the stock. Barclays cut their target price on American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Scotiabank boosted their target price on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. Finally, Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.14.

American Tower Stock Down 0.4 %

Shares of AMT traded down $0.91 on Wednesday, reaching $225.25. The company’s stock had a trading volume of 1,105,495 shares, compared to its average volume of 2,328,631. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $236.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The firm has a fifty day moving average of $211.03 and a 200-day moving average of $197.22. The stock has a market capitalization of $105.19 billion, a PE ratio of 50.96, a PEG ratio of 1.48 and a beta of 0.81.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion for 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%. American Tower’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 EPS. Equities analysts predict that American Tower Co. will post 10.04 EPS for the current 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.