Burney Co. Buys 766 Shares of American Tower Co. (NYSE:AMT)

Burney Co. increased its stake in American Tower Co. (NYSE:AMT) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,322 shares of the real estate investment trust’s stock after buying an additional 766 shares during the period. Burney Co.’s holdings in American Tower were worth $4,922,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allstate Corp lifted its stake in shares of American Tower by 3.1% in the 4th quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock valued at $378,000 after purchasing an additional 53 shares during the period. McIlrath & Eck LLC boosted its holdings in shares of American Tower by 13.9% during the 4th quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 56 shares in the last quarter. Glassman Wealth Services grew its position in shares of American Tower by 4.7% in the 4th quarter. Glassman Wealth Services now owns 1,242 shares of the real estate investment trust’s stock worth $268,000 after buying an additional 56 shares during the period. CFO4Life Group LLC grew its position in shares of American Tower by 5.4% in the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 57 shares during the period. Finally, Choreo LLC increased its stake in shares of American Tower by 1.4% in the 4th quarter. Choreo LLC now owns 4,269 shares of the real estate investment trust’s stock worth $922,000 after acquiring an additional 58 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of AMT stock traded down $3.19 during trading hours on Thursday, reaching $222.06. The company had a trading volume of 934,288 shares, compared to its average volume of 2,320,282. 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 business has a fifty day moving average price of $211.03 and a 200-day moving average price of $197.22. American Tower Co. has a one year low of $154.58 and a one year high of $236.13. The firm has a market cap of $103.72 billion, a PE ratio of 50.41, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

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 analysts’ consensus estimates of $2.44 by ($0.52). The company had revenue of $2.90 billion during 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%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. Sell-side analysts predict that American Tower Co. will post 10.04 earnings per share for the current fiscal year.

Insider Activity at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the firm’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 transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at $14,223,890. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were 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 $14,223,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction on 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 transaction, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,227 shares of company stock worth $8,497,458. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AMT shares. BMO Capital Markets restated an “outperform” rating and issued a $246.00 price objective (up previously from $225.00) on shares of American Tower in a report on Wednesday, July 31st. TD Cowen upped their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted 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. Deutsche Bank Aktiengesellschaft boosted their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Barclays lowered their price target on American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s 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.

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.