Azzad Asset Management Inc. ADV Has $1.95 Million Position in American Tower Co. (NYSE:AMT)

Azzad Asset Management Inc. ADV boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,041 shares of the real estate investment trust’s stock after buying an additional 138 shares during the period. Azzad Asset Management Inc. ADV’s holdings in American Tower were worth $1,952,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in American Tower by 1.6% during the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after buying an additional 965,938 shares in the last quarter. Cohen & Steers Inc. boosted its stake in American Tower by 3.7% during the fourth quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock worth $3,549,366,000 after buying an additional 583,892 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of American Tower by 21.9% in the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after purchasing an additional 2,839,570 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of American Tower by 36.2% in the 1st quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock valued at $1,737,760,000 after purchasing an additional 2,336,501 shares in the last quarter. Finally, Akre Capital Management LLC boosted its stake in shares of American Tower by 0.5% in the 4th quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock valued at $1,468,977,000 after purchasing an additional 36,375 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE:AMT opened at $223.96 on Friday. The stock has a market capitalization of $104.58 billion, a P/E ratio of 50.67, a P/E/G ratio of 1.52 and a beta of 0.81. American Tower Co. has a 1-year low of $154.58 and a 1-year 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 business has a 50-day moving average price of $212.27 and a two-hundred day moving average price of $197.59.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share 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 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 business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 earnings per share. Equities analysts predict that American Tower Co. will post 10.04 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMT. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Barclays reduced their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. BMO Capital Markets restated an “outperform” rating and issued a $246.00 target price (up previously from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. TD Cowen boosted their target price on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $231.14.

Insiders Place Their Bets

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

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.