Callan Family Office LLC Sells 9,607 Shares of American Tower Corporation $AMT

Key Points

• Callan Family Office LLC reduced its stake in American Tower Corporation by 75%, owning 3,210 shares worth $698,000 as of the latest 13F filing.
• CEO Juan Font sold 720 shares of American Tower stock at an average price of $208.33, decreasing his position by 2.98%.
• American Tower reported $2.60 earnings per share for the last quarter, beating estimates, but its revenue was down 9.4% year-over-year.

Callan Family Office LLC trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 75.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,210 shares of the real estate investment trust's stock after selling 9,607 shares during the period. Callan Family Office LLC's holdings in American Tower were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AMT. North Capital Inc. bought a new stake in shares of American Tower in the first quarter valued at about $25,000. Hopwood Financial Services Inc. boosted its position in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 60 shares during the period. Minot DeBlois Advisors LLC bought a new stake in shares of American Tower in the fourth quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower in the first quarter valued at about $31,000. Finally, Lowe Wealth Advisors LLC boosted its position in shares of American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 109 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Down 1.0%

NYSE AMT traded down $2.08 during trading hours on Monday, reaching $204.04. The company's stock had a trading volume of 1,255,409 shares, compared to its average volume of 2,598,022. The firm has a fifty day simple moving average of $217.44 and a 200-day simple moving average of $212.04. The stock has a market cap of $95.54 billion, a P/E ratio of 74.20, a P/E/G ratio of 1.17 and a beta of 0.82. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $243.56. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm's quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the business earned $2.79 EPS. Equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMT. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. JPMorgan Chase & Co. upped their price objective on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wells Fargo & Company cut their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. BMO Capital Markets reaffirmed an "outperform" rating and set a $245.00 price objective (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Finally, UBS Group upped their price objective on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $244.73.

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.