Quotient Wealth Partners LLC Purchases 1,154 Shares of American Tower Co. (NYSE:AMT)

Quotient Wealth Partners LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 51.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,416 shares of the real estate investment trust’s stock after acquiring an additional 1,154 shares during the quarter. Quotient Wealth Partners LLC’s holdings in American Tower were worth $664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Everhart Financial Group Inc. raised its stake in shares of American Tower by 35.7% during the second quarter. Everhart Financial Group Inc. now owns 1,630 shares of the real estate investment trust’s stock valued at $317,000 after acquiring an additional 429 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of American Tower by 5.9% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 2,932 shares of the real estate investment trust’s stock worth $570,000 after purchasing an additional 164 shares during the period. JB Capital LLC purchased a new position in shares of American Tower in the 2nd quarter valued at $3,106,000. My Legacy Advisors LLC purchased a new stake in shares of American Tower during the 2nd quarter worth $650,000. Finally, DT Investment Partners LLC grew its stake in American Tower by 17.0% in the second quarter. DT Investment Partners LLC now owns 1,702 shares of the real estate investment trust’s stock valued at $331,000 after purchasing an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 3.1 %

AMT stock traded up $6.90 during mid-day trading on Friday, reaching $227.00. The company had a trading volume of 1,803,979 shares, compared to its average volume of 2,351,486. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $236.13. The company has a market capitalization of $106.00 billion, a price-to-earnings ratio of 51.36, a price-to-earnings-growth ratio of 1.48 and a beta of 0.81. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a fifty day simple moving average of $209.70 and a 200 day simple moving average of $196.71.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $2.46 EPS. Analysts forecast that American Tower Co. will post 10.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on AMT shares. Barclays lowered their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Scotiabank raised their price target 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. JPMorgan Chase & Co. raised their target price on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their target price on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.14.

Insider Buying and Selling

In other news, CEO Steven O. Vondran sold 21,537 shares of the business’s 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 sale, the chief executive officer now owns 61,843 shares in the company, valued at approximately $14,223,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Steven O. Vondran sold 21,537 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the transaction, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The disclosure for this sale can be found here. Insiders sold a total of 37,227 shares of company stock worth $8,497,458 over the last 90 days. 0.18% of the stock is owned by insiders.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.