Schrum Private Wealth Management LLC Sells 129 Shares of American Tower Co. (NYSE:AMT)

Schrum Private Wealth Management LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,126 shares of the real estate investment trust’s stock after selling 129 shares during the period. Schrum Private Wealth Management LLC’s holdings in American Tower were worth $219,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. bought a new stake in American Tower during the second quarter valued at about $5,829,000. Kings Path Partners LLC bought a new stake in American Tower during the second quarter valued at about $50,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of American Tower by 3.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,398 shares of the real estate investment trust’s stock valued at $10,574,000 after buying an additional 1,749 shares during the last quarter. Atlas Capital Advisors LLC raised its position in shares of American Tower by 116.7% during the second quarter. Atlas Capital Advisors LLC now owns 1,300 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 700 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV raised its position in shares of American Tower by 1.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 10,041 shares of the real estate investment trust’s stock valued at $1,952,000 after buying an additional 138 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Transactions at American Tower

In other news, CEO Steven O. Vondran sold 21,537 shares of the firm’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 of the company’s stock, valued at $14,223,890. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the stock in a transaction that occurred 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 directly owns 31,873 shares of the company’s stock, valued at $7,424,177.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,227 shares of company stock valued at $8,497,458. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE:AMT traded up $0.54 during mid-day trading on Friday, hitting $224.06. The company’s stock had a trading volume of 1,796,764 shares, compared to its average volume of 2,323,528. 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 current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The company has a market capitalization of $104.63 billion, a price-to-earnings ratio of 50.67, a P/E/G ratio of 1.52 and a beta of 0.81. The stock has a fifty day moving average of $212.27 and a 200-day moving average of $197.59.

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 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 business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 EPS. As a group, equities analysts forecast that American Tower Co. will post 10.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research analyst reports. TD Cowen upped their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Barclays cut their price objective on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their price objective on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their price objective 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 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.