American Tower Co. (NYSE:AMT) Stock Position Raised by Torray Investment Partners LLC

Torray Investment Partners LLC lifted its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,923 shares of the real estate investment trust's stock after acquiring an additional 6,752 shares during the period. American Tower accounts for approximately 1.3% of Torray Investment Partners LLC's portfolio, making the stock its 29th biggest holding. Torray Investment Partners LLC's holdings in American Tower were worth $8,973,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Rehmann Capital Advisory Group grew its holdings in shares of American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock worth $332,000 after buying an additional 58 shares in the last quarter. Precedent Wealth Partners LLC lifted its stake in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after purchasing an additional 58 shares during the period. Resonant Capital Advisors LLC grew its position in shares of American Tower by 5.8% in the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after purchasing an additional 61 shares during the period. Calamos Wealth Management LLC increased its stake in American Tower by 2.9% in the fourth quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock valued at $398,000 after purchasing an additional 61 shares during the last quarter. Finally, Sunburst Financial Group LLC lifted its position in American Tower by 4.9% during the fourth quarter. Sunburst Financial Group LLC now owns 1,354 shares of the real estate investment trust's stock worth $248,000 after buying an additional 63 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMT. Mizuho decreased their target price on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. BMO Capital Markets boosted their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Barclays reduced their target price on American Tower from $215.00 to $214.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. JMP Securities began coverage on American Tower in a research note on Monday, January 27th. They set an "outperform" rating and a $225.00 price target for the company. Finally, Morgan Stanley reduced their price objective on American Tower from $219.00 to $213.00 and set an "equal weight" rating on the stock in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.21.

American Tower Stock Down 1.5 %

Shares of NYSE AMT traded down $3.10 during midday trading on Thursday, reaching $205.59. 432,053 shares of the company's stock were exchanged, compared to its average volume of 2,212,247. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The business's fifty day moving average price is $188.53 and its two-hundred day moving average price is $206.45. The stock has a market capitalization of $96.07 billion, a PE ratio of 86.72, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.83. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the business earned $2.29 EPS. American Tower's revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

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.