American Tower Corporation (NYSE:AMT) Shares Sold by Liontrust Investment Partners LLP

Liontrust Investment Partners LLP lessened its stake in shares of American Tower Corporation (NYSE:AMT) by 7.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 651,384 shares of the real estate investment trust’s stock after selling 53,548 shares during the quarter. American Tower comprises about 2.2% of Liontrust Investment Partners LLP’s investment portfolio, making the stock its 9th biggest position. Liontrust Investment Partners LLP’s holdings in American Tower were worth $141,741,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. North Capital Inc. acquired a new stake in shares of American Tower during the 1st quarter worth about $25,000. Hopwood Financial Services Inc. raised its stake in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower in the 1st quarter worth about $31,000. Lowe Wealth Advisors LLC raised its stake in American Tower by 218.0% in the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 109 shares in the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new stake in American Tower in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.17% of the company’s stock.

American Tower Trading Down 0.2%

Shares of American Tower stock opened at $203.82 on Friday. The firm has a market capitalization of $95.44 billion, a PE ratio of 74.12, a price-to-earnings-growth ratio of 1.16 and a beta of 0.82. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm’s 50 day moving average is $217.56 and its 200 day moving average is $211.54. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm’s revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 EPS. Equities research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on AMT shares. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a research note on Wednesday, July 30th. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Barclays lifted their price objective on shares of American Tower from $223.00 to $246.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 23rd. Finally, JMP Securities boosted their target price on shares of American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $244.47.

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