Bbva Compass Bancshares Inc. Acquires 887 Shares of American Tower Corp. (AMT)
Bbva Compass Bancshares Inc. boosted its position in shares of American Tower Corp. (NYSE:AMT) by 5.2% during the third quarter, Holdings Channel reports. The firm owned 17,938 shares of the real estate investment trust’s stock after buying an additional 887 shares during the period. Bbva Compass Bancshares Inc.’s holdings in American Tower Corp. were worth $2,033,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in American Tower Corp. by 1.7% in the second quarter. Vanguard Group Inc. now owns 25,767,548 shares of the real estate investment trust’s stock worth $2,927,451,000 after buying an additional 441,783 shares during the period. Standard Life Investments LTD raised its position in American Tower Corp. by 5.6% in the second quarter. Standard Life Investments LTD now owns 4,467,595 shares of the real estate investment trust’s stock worth $507,519,000 after buying an additional 238,684 shares during the period. Cohen & Steers Inc. raised its position in American Tower Corp. by 50.7% in the second quarter. Cohen & Steers Inc. now owns 3,803,923 shares of the real estate investment trust’s stock worth $77,904,000 after buying an additional 1,280,386 shares during the period. Principal Financial Group Inc. raised its position in American Tower Corp. by 2.3% in the second quarter. Principal Financial Group Inc. now owns 2,428,981 shares of the real estate investment trust’s stock worth $275,955,000 after buying an additional 54,483 shares during the period. Finally, American Century Companies Inc. raised its position in American Tower Corp. by 7.8% in the second quarter. American Century Companies Inc. now owns 2,403,790 shares of the real estate investment trust’s stock worth $273,095,000 after buying an additional 173,514 shares during the period. Hedge funds and other institutional investors own 92.79% of the company’s stock.
Shares of American Tower Corp. (NYSE:AMT) traded down 3.56% on Wednesday, reaching $102.27. 5,864,902 shares of the company traded hands. American Tower Corp. has a 52-week low of $83.07 and a 52-week high of $118.26. The firm has a 50-day moving average of $111.03 and a 200-day moving average of $111.64. The company has a market capitalization of $43.54 billion, a PE ratio of 51.19 and a beta of 0.69.
American Tower Corp. (NYSE:AMT) last issued its quarterly earnings results on Thursday, October 27th. The real estate investment trust reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. American Tower Corp. had a return on equity of 14.05% and a net margin of 17.37%. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the company earned $1.31 earnings per share. On average, equities research analysts forecast that American Tower Corp. will post $5.73 earnings per share for the current fiscal year.
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AMT has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of American Tower Corp. from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research report on Monday, November 14th. Stifel Nicolaus lifted their price objective on shares of American Tower Corp. from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, October 31st. Deutsche Bank AG reiterated a “buy” rating and issued a $135.00 price objective on shares of American Tower Corp. in a research report on Friday, November 4th. SunTrust Banks Inc. initiated coverage on shares of American Tower Corp. in a research report on Monday, September 12th. They set a “buy” rating and a $128.00 target price on the stock. Finally, Jefferies Group restated a “buy” rating on shares of American Tower Corp. in a research report on Saturday, August 6th. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. American Tower Corp. presently has a consensus rating of “Buy” and an average target price of $123.44.
In related news, Director Carolyn Katz sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $116.34, for a total transaction of $581,700.00. Following the completion of the transaction, the director now owns 14,484 shares of the company’s stock, valued at $1,685,068.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Samme L. Thompson sold 2,202 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $116.13, for a total value of $255,718.26. Following the transaction, the director now directly owns 16,063 shares of the company’s stock, valued at approximately $1,865,396.19. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.
About American Tower Corp.
American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.
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