Global X Japan Co. Ltd. Buys Shares of 843 American Tower Co. (NYSE:AMT)

Global X Japan Co. Ltd. bought a new stake in shares of American Tower Co. (NYSE:AMT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 843 shares of the real estate investment trust’s stock, valued at approximately $164,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. LGT Fund Management Co Ltd. lifted its stake in American Tower by 1,747.1% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 60,214 shares of the real estate investment trust’s stock valued at $11,704,000 after acquiring an additional 56,954 shares during the period. Davis Selected Advisers lifted its stake in American Tower by 14.1% during the 2nd quarter. Davis Selected Advisers now owns 76,070 shares of the real estate investment trust’s stock valued at $14,786,000 after acquiring an additional 9,390 shares during the period. Longfellow Investment Management Co. LLC lifted its stake in American Tower by 83.4% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 3,475 shares of the real estate investment trust’s stock valued at $675,000 after acquiring an additional 1,580 shares during the period. Choreo LLC lifted its stake in shares of American Tower by 240.2% in the 2nd quarter. Choreo LLC now owns 13,797 shares of the real estate investment trust’s stock worth $2,678,000 after purchasing an additional 9,741 shares during the period. Finally, Pacific Heights Asset Management LLC lifted its stake in shares of American Tower by 100.0% in the 2nd quarter. Pacific Heights Asset Management LLC now owns 40,000 shares of the real estate investment trust’s stock worth $7,775,000 after purchasing an additional 20,000 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Steven O. Vondran sold 21,537 shares of American Tower stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares in the company, valued at $14,223,890. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Olivier Puech sold 10,005 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the completion of the sale, the executive vice president now owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. Insiders have sold a total of 33,723 shares of company stock worth $7,795,397 over the last quarter. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMT. BMO Capital Markets reiterated an “outperform” rating and issued a $246.00 price objective (up previously from $225.00) on shares of American Tower in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Scotiabank increased their price objective on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” 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, TD Cowen increased their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $231.14.

American Tower Trading Up 1.8 %

American Tower stock opened at $242.82 on Wednesday. The stock has a market cap of $113.42 billion, a P/E ratio of 54.94, a PEG ratio of 1.57 and a beta of 0.83. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $243.56. The firm’s 50 day moving average price is $218.46 and its 200-day moving average price is $200.20.

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

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.