Montag & Caldwell LLC Has $39.02 Million Position in American Tower Corp (NYSE:AMT)

Montag & Caldwell LLC lowered its stake in shares of American Tower Corp (NYSE:AMT) by 6.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 190,868 shares of the real estate investment trust’s stock after selling 14,054 shares during the quarter. American Tower accounts for about 2.0% of Montag & Caldwell LLC’s investment portfolio, making the stock its 27th largest holding. Montag & Caldwell LLC’s holdings in American Tower were worth $39,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the stock. Sigma Planning Corp grew its position in American Tower by 4.1% during the second quarter. Sigma Planning Corp now owns 4,861 shares of the real estate investment trust’s stock worth $994,000 after buying an additional 191 shares in the last quarter. Kavar Capital Partners LLC acquired a new stake in American Tower during the second quarter worth approximately $47,000. DekaBank Deutsche Girozentrale grew its position in American Tower by 3.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 60,475 shares of the real estate investment trust’s stock worth $12,679,000 after buying an additional 2,271 shares in the last quarter. Hall Laurie J Trustee grew its position in American Tower by 13.3% during the second quarter. Hall Laurie J Trustee now owns 425 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 50 shares in the last quarter. Finally, Advisory Services Network LLC grew its position in American Tower by 12.0% during the second quarter. Advisory Services Network LLC now owns 10,180 shares of the real estate investment trust’s stock worth $2,082,000 after buying an additional 1,094 shares in the last quarter. 93.68% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO James D. Taiclet, Jr. sold 57,439 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $207.93, for a total value of $11,943,291.27. Following the completion of the transaction, the chief executive officer now directly owns 255,415 shares in the company, valued at approximately $53,108,440.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David E. Sharbutt sold 2,039 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $217.59, for a total value of $443,666.01. Following the completion of the transaction, the director now owns 3,936 shares of the company’s stock, valued at $856,434.24. The disclosure for this sale can be found here. Insiders sold a total of 191,020 shares of company stock valued at $39,584,998 over the last quarter. 0.75% of the stock is owned by corporate insiders.

A number of equities research analysts recently issued reports on the company. KeyCorp increased their price target on American Tower from $207.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. They noted that the move was a valuation call. UBS Group downgraded American Tower from a “buy” rating to a “neutral” rating and raised their target price for the company from $195.00 to $222.00 in a report on Friday, June 7th. SunTrust Banks raised their target price on American Tower to $230.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada raised their target price on American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $195.60.

Shares of AMT stock traded up $3.97 during trading hours on Thursday, reaching $222.85. The company’s stock had a trading volume of 50,383 shares, compared to its average volume of 1,630,207. The company’s 50 day moving average is $210.52. The firm has a market capitalization of $98.41 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 1.81 and a beta of 0.50. American Tower Corp has a fifty-two week low of $140.40 and a fifty-two week high of $224.71. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 4.13.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.91). American Tower had a net margin of 19.30% and a return on equity of 24.75%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company posted $1.74 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that American Tower Corp will post 7.66 EPS for the current year.

American Tower 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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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