Crestwood Advisors Group LLC sells 345 shares of American Tower Co. (NYSE:AMT)

VaselineSeptember 3, 2024

0 4 minutes read

Crestwood Advisors Group LLC reduced its holdings in shares of American Tower Co. (NYSE:AMT – Free Report) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,341 shares of the real estate investment trust’s stock after selling 345 shares during the quarter. Crestwood Advisors Group LLC’s holdings in American Tower were worth $4,148,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of AMT. Northwest Investment Counselors LLC acquired a new stake in American Tower in the first quarter valued at $25,000. Gold Investment Management Ltd. bought a new stake in shares of American Tower in the 4th quarter valued at about $28,000. Cultivar Capital Inc. purchased a new stake in American Tower in the second quarter valued at about $25,000. Private Wealth Management Group LLC bought a new position in American Tower in the fourth quarter valued at about $31,000. Finally, Hobbs Group Advisors LLC bought a new position in American Tower in the second quarter valued at approximately $29,000. 92.69% of shares are currently held by institutional investors and hedge funds.

Insider buying and selling

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In related news, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CEO Steven O. Vondran sold 21,537 shares of the 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 completion of the transaction, the chief executive officer now directly owns 61,843 shares of the company’s stock, valued at approximately $14,223,890. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,723 shares of company stock worth $7,795,397. Corporate insiders own 0.18% of the company’s shares.

Changes in Analyst Ratings

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A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on American Tower from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Goldman Sachs Group began coverage on American Tower in a report on Monday, July 1st. They set a “buy” rating and a $230.00 price target for the company. TD Cowen boosted their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Barclays cut their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Two equities research 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’s stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.14, according to MarketBeat.com.

See the latest stock report on AMT

American Tower Trading rose 0.2%

Shares of AMT stock opened at $224.06 on Tuesday. The stock has a market cap of $104.65 billion, a P/E ratio of 50.69, a price-to-earnings-growth ratio of 1.51 and a beta of 0.83. The company has a current ratio of 0.81, a quick ratio of 0.81, and a debt-to-equity ratio of 3.42. The stock has a 50-day simple moving average of $213.40 and a 200-day simple moving average of $198.19. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $236.13.

American Tower (NYSE:AMT – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. On average, research analysts predict that American Tower Co. will post 10.05 earnings per share for the current fiscal year.

American tower profile

(Free Report)

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multi-tenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of US data centers.