Triglav Skladi D.O.O. Sells 1,600 Shares of American Tower Corporation (NYSE:AMT)

Key Points

• Triglav Skladi D.O.O. reduced its holdings in American Tower Corporation by 32.0% in the 1st quarter, leaving it with 3,400 shares valued at $740,000.
• CEO Juan Font sold 720 shares of American Tower stock, decreasing his ownership by 2.98% to 23,425 shares valued at approximately $4.88 million.
• American Tower reported $2.60 EPS for the most recent quarter, exceeding analysts' estimates, but showed a 9.4% decline in revenue year-over-year.

Triglav Skladi D.O.O. trimmed its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 32.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,400 shares of the real estate investment trust's stock after selling 1,600 shares during the quarter. Triglav Skladi D.O.O.'s holdings in American Tower were worth $740,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. S Bank Fund Management Ltd acquired a new position in shares of American Tower in the 1st quarter worth approximately $873,000. Maple Brown Abbott Ltd lifted its position in shares of American Tower by 27.9% in the 1st quarter. Maple Brown Abbott Ltd now owns 293,081 shares of the real estate investment trust's stock worth $63,780,000 after purchasing an additional 63,941 shares during the period. National Pension Service lifted its position in shares of American Tower by 8.5% in the 1st quarter. National Pension Service now owns 1,141,275 shares of the real estate investment trust's stock worth $248,341,000 after purchasing an additional 89,363 shares during the period. MSH Capital Advisors LLC acquired a new position in shares of American Tower in the 1st quarter worth approximately $2,290,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of American Tower in the 1st quarter worth approximately $91,000. 92.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company's stock.

American Tower Stock Down 0.2%

AMT traded down $0.33 during trading on Thursday, hitting $203.82. 2,636,869 shares of the company's stock were exchanged, compared to its average volume of 2,192,818. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The business's 50 day moving average is $217.56 and its two-hundred day moving average is $211.54. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $243.56. The stock has a market cap of $95.44 billion, a P/E ratio of 74.12, a PEG ratio of 1.16 and a beta of 0.82.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. The business's revenue was down 9.4% on a year-over-year basis. As a group, equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AMT shares. BMO Capital Markets restated an "outperform" rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Bank of America assumed coverage on shares of American Tower in a research report on Monday, May 19th. They issued a "buy" rating and a $255.00 price target on the stock. JPMorgan Chase & Co. increased their target price on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company reduced their price target on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $243.88.

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.