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Dakota Wealth Management Acquires 959 Shares of American Tower Co. (NYSE:AMT)

Dakota Wealth Management boosted its holdings in shares of American Tower Co. (NYSE:AMTGet Rating) by 35.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,661 shares of the real estate investment trust’s stock after purchasing an additional 959 shares during the quarter. Dakota Wealth Management’s holdings in American Tower were worth $920,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rational Advisors LLC raised its holdings in American Tower by 140.0% in the 4th quarter. Rational Advisors LLC now owns 84 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 49 shares in the last quarter. Crewe Advisors LLC acquired a new position in American Tower in the 4th quarter valued at approximately $28,000. Covestor Ltd acquired a new position in American Tower in the 4th quarter valued at approximately $36,000. IAG Wealth Partners LLC raised its holdings in American Tower by 84.5% in the 4th quarter. IAG Wealth Partners LLC now owns 131 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 60 shares in the last quarter. Finally, Vectors Research Management LLC raised its holdings in American Tower by 134.5% in the 4th quarter. Vectors Research Management LLC now owns 136 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 91.03% of the company’s stock.

Insider Buying and Selling

In other American Tower news, Director Robert D. Hormats sold 150 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $254.53, for a total transaction of $38,179.50. Following the transaction, the director now directly owns 6,571 shares in the company, valued at approximately $1,672,516.63. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robert D. Hormats sold 150 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $254.53, for a total transaction of $38,179.50. Following the completion of the sale, the director now directly owns 6,571 shares of the company’s stock, valued at $1,672,516.63. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert D. Hormats sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $235.40, for a total transaction of $47,080.00. Following the completion of the transaction, the director now directly owns 6,721 shares in the company, valued at $1,582,123.40. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

American Tower Trading Up 0.8 %

AMT stock opened at $261.67 on Friday. The business has a fifty day moving average price of $263.12 and a 200 day moving average price of $252.35. American Tower Co. has a fifty-two week low of $220.00 and a fifty-two week high of $303.71. The stock has a market capitalization of $121.83 billion, a price-to-earnings ratio of 43.04, a P/E/G ratio of 2.38 and a beta of 0.48. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.65 and a quick ratio of 0.65.

American Tower (NYSE:AMTGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.99. American Tower had a return on equity of 28.93% and a net margin of 27.23%. The firm had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the company earned $2.42 EPS. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. Analysts expect that American Tower Co. will post 9.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMT. Bank of America began coverage on American Tower in a report on Sunday, June 5th. They issued a “buy” rating and a $315.00 price target for the company. Jefferies Financial Group cut their price target on American Tower from $308.00 to $293.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Royal Bank of Canada increased their target price on American Tower from $282.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Barclays increased their target price on American Tower from $284.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 26th. Finally, Citigroup dropped their target price on American Tower from $300.00 to $290.00 and set a “buy” rating for the company in a report on Monday, July 18th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $291.53.

American Tower Company Profile

(Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

See Also

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