Waratah Capital Advisors Ltd. Reduces Stock Position in American Tower Corp (NYSE:AMT)

Waratah Capital Advisors Ltd. cut its holdings in American Tower Corp (NYSE:AMT) by 32.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,093 shares of the real estate investment trust’s stock after selling 45,859 shares during the quarter. American Tower makes up approximately 2.3% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 11th largest holding. Waratah Capital Advisors Ltd.’s holdings in American Tower were worth $20,807,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in American Tower in the 3rd quarter worth $25,000. Nelson Roberts Investment Advisors LLC purchased a new stake in American Tower in the 2nd quarter worth $27,000. Next Capital Management LLC purchased a new stake in American Tower in the 2nd quarter worth $31,000. NewSquare Capital LLC raised its holdings in American Tower by 192.3% during the second quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 100 shares during the period. Finally, Litman Gregory Asset Management LLC bought a new stake in American Tower during the second quarter valued at about $33,000. Institutional investors own 91.69% of the company’s stock.

NYSE AMT traded up $2.03 during trading hours on Tuesday, hitting $211.60. 534,935 shares of the company were exchanged, compared to its average volume of 1,553,519. American Tower Corp has a 52 week low of $150.66 and a 52 week high of $242.00. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.40. The stock has a 50-day moving average price of $215.63 and a 200 day moving average price of $215.56. The stock has a market cap of $94.80 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.71 and a beta of 0.40.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 EPS for the quarter, beating the consensus estimate of $0.95 by $0.17. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm posted $1.85 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Tower Corp will post 7.65 earnings per share for the current year.

In other American Tower news, Director Pamela D. A. Reeve sold 4,167 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $240.80, for a total value of $1,003,413.60. Following the completion of the sale, the director now directly owns 19,139 shares of the company’s stock, valued at approximately $4,608,671.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total transaction of $206,780.00. The disclosure for this sale can be found here. Insiders sold a total of 135,571 shares of company stock worth $30,383,964 in the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

AMT has been the subject of several recent analyst reports. Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a research note on Tuesday, August 20th. Cowen upped their price objective on American Tower from $238.00 to $260.00 and gave the stock an “in-line” rating in a report on Friday, November 1st. Morgan Stanley reaffirmed a “hold” rating and set a $218.00 price objective (up from $216.00) on shares of American Tower in a report on Friday, November 22nd. Citigroup increased their target price on American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, KeyCorp set a $242.00 target price on shares of American Tower and gave the company a “buy” rating in a report on Friday, November 1st. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $215.93.

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 approximately 171,000 communications sites.

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

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