Grassi Investment Management Has $10.29 Million Stake in American Tower Co. (NYSE:AMT)

Grassi Investment Management boosted its stake in American Tower Co. (NYSE:AMT) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,047 shares of the real estate investment trust’s stock after purchasing an additional 300 shares during the period. Grassi Investment Management’s holdings in American Tower were worth $10,288,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. BCK Partners Inc. acquired a new stake in American Tower in the first quarter valued at $2,892,000. Fairfield Bush & CO. grew its holdings in American Tower by 138.9% during the 1st quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust’s stock worth $711,000 after acquiring an additional 1,645 shares during the period. Cetera Investment Advisers grew its holdings in American Tower by 5.7% during the 1st quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust’s stock worth $3,621,000 after acquiring an additional 771 shares during the period. Sequoia Financial Advisors LLC grew its holdings in American Tower by 33.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust’s stock worth $757,000 after acquiring an additional 756 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in American Tower by 1.4% during the 1st quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust’s stock worth $38,367,000 after acquiring an additional 2,071 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AMT shares. Wells Fargo & Company cut their price objective on shares of American Tower from $245.00 to $215.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 18th. StockNews.com assumed coverage on shares of American Tower in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley decreased their price objective on shares of American Tower from $213.00 to $212.00 and set an “equal weight” rating for the company in a research note on Thursday. BMO Capital Markets assumed coverage on shares of American Tower in a research note on Thursday, July 13th. They issued an “outperform” rating and a $230.00 price objective for the company. Finally, Royal Bank of Canada decreased their price objective on shares of American Tower from $233.00 to $230.00 and set an “outperform” rating for the company in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $240.29.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $178.14, for a total value of $1,781,400.00. Following the completion of the transaction, the chief financial officer now owns 50,662 shares in the company, valued at approximately $9,024,928.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Rodney M. Smith sold 2,727 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $187.17, for a total transaction of $510,412.59. Following the completion of the transaction, the chief financial officer now owns 50,662 shares of the company’s stock, valued at $9,482,406.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Rodney M. Smith sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $178.14, for a total transaction of $1,781,400.00. Following the transaction, the chief financial officer now directly owns 50,662 shares of the company’s stock, valued at approximately $9,024,928.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,251 shares of company stock worth $2,957,531. 0.24% of the stock is owned by company insiders.

American Tower Trading Down 0.5 %

NYSE:AMT opened at $180.14 on Monday. American Tower Co. has a 1 year low of $172.55 and a 1 year high of $247.78. The stock’s fifty day moving average price is $184.36 and its two-hundred day moving average price is $191.89. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $83.97 billion, a P/E ratio of 87.02, a P/E/G ratio of 1.36 and a beta of 0.58.

American Tower 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 nearly 226,000 communications sites and a highly interconnected footprint of U.S. data center facilities.