Edgestream Partners L.P. cut its stake in shares of American Tower Corp (NYSE:AMT) by 76.5% in the 4th quarter, HoldingsChannel reports. The fund owned 4,383 shares of the real estate investment trust’s stock after selling 14,299 shares during the period. Edgestream Partners L.P.’s holdings in American Tower were worth $625,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Baird Financial Group Inc. increased its holdings in American Tower by 2.7% in the 4th quarter. Baird Financial Group Inc. now owns 192,223 shares of the real estate investment trust’s stock worth $27,425,000 after buying an additional 5,037 shares in the last quarter. Norinchukin Bank The increased its holdings in American Tower by 7.3% in the 4th quarter. Norinchukin Bank The now owns 34,288 shares of the real estate investment trust’s stock worth $4,892,000 after buying an additional 2,344 shares in the last quarter. American International Group Inc. increased its holdings in American Tower by 0.3% in the 4th quarter. American International Group Inc. now owns 199,111 shares of the real estate investment trust’s stock worth $28,407,000 after buying an additional 659 shares in the last quarter. Wetherby Asset Management Inc. increased its holdings in American Tower by 4.9% in the 4th quarter. Wetherby Asset Management Inc. now owns 8,373 shares of the real estate investment trust’s stock worth $1,195,000 after buying an additional 393 shares in the last quarter. Finally, SNS Financial Group LLC bought a new stake in American Tower in the 4th quarter worth about $201,000. Hedge funds and other institutional investors own 92.19% of the company’s stock.
American Tower Corp (NYSE:AMT) opened at $140.02 on Tuesday. American Tower Corp has a 12-month low of $107.66 and a 12-month high of $155.28. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market capitalization of $60,048.42, a PE ratio of 53.24, a PEG ratio of 1.33 and a beta of 0.77.
In other news, Director David E. Sharbutt sold 1,584 shares of American Tower stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $144.44, for a total transaction of $228,792.96. Following the transaction, the director now directly owns 4,861 shares of the company’s stock, valued at approximately $702,122.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman James D. Taiclet, Jr. sold 34,667 shares of American Tower stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $142.52, for a total value of $4,940,740.84. Following the transaction, the chairman now directly owns 305,374 shares in the company, valued at $43,521,902.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,251 shares of company stock worth $5,885,334. Insiders own 0.86% of the company’s stock.
Several research analysts have issued reports on AMT shares. Jefferies Group raised their target price on American Tower from $144.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Cowen reissued a “buy” rating on shares of American Tower in a research report on Tuesday, October 24th. Argus raised their target price on American Tower to $170.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research raised American Tower from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Friday, November 3rd. Finally, ValuEngine raised American Tower from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the stock. American Tower presently has a consensus rating of “Buy” and a consensus price target of $158.60.
TRADEMARK VIOLATION NOTICE: “Edgestream Partners L.P. Has $625,000 Stake in American Tower Corp (AMT)” was first reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.com-unik.info/2018/02/20/edgestream-partners-l-p-has-625000-stake-in-american-tower-corp-amt.html.
About American Tower
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.