Angeles Wealth Management LLC Purchases Shares of 1,538 American Tower Co. (NYSE:AMT)

Angeles Wealth Management LLC purchased a new stake in American Tower Co. (NYSE:AMT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,538 shares of the real estate investment trust’s stock, valued at approximately $299,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meyer Handelman Co. bought a new stake in American Tower in the 1st quarter valued at $801,000. TD Asset Management Inc increased its holdings in American Tower by 23.2% in the 4th quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after buying an additional 51,882 shares during the period. Kingsview Wealth Management LLC increased its holdings in American Tower by 13.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after buying an additional 4,660 shares during the period. Berkeley Capital Partners LLC boosted its stake in shares of American Tower by 3.5% in the 4th quarter. Berkeley Capital Partners LLC now owns 3,895 shares of the real estate investment trust’s stock valued at $841,000 after purchasing an additional 130 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after purchasing an additional 4,430 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock opened at $238.97 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $243.56. The company has a market cap of $111.62 billion, a PE ratio of 54.07, a PEG ratio of 1.57 and a beta of 0.83. The company’s 50-day moving average is $219.34 and its two-hundred day moving average is $200.47.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a net margin of 21.95% and a return on equity of 23.06%. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts anticipate that American Tower Co. will post 10.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 target price on the stock. 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. 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. StockNews.com upgraded shares of American Tower from a “hold” rating to 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.14.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the transaction, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the completion of the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. 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 have sold 33,723 shares of company stock worth $7,795,397. Company insiders own 0.18% of the company’s stock.

American Tower Company 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.