Quest Capital Management Inc. ADV cut its stake in American Tower Corp (NYSE:AMT) by 99.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,115 shares of the real estate investment trust’s stock after selling 117,358 shares during the period. Quest Capital Management Inc. ADV’s holdings in American Tower were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI boosted its stake in shares of American Tower by 136.6% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 34,931 shares of the real estate investment trust’s stock worth $7,142,000 after buying an additional 20,167 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of American Tower by 5.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 75,512 shares of the real estate investment trust’s stock worth $15,438,000 after buying an additional 3,774 shares during the last quarter. Stock Yards Bank & Trust Co. boosted its stake in shares of American Tower by 0.8% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 98,498 shares of the real estate investment trust’s stock worth $20,138,000 after buying an additional 804 shares during the last quarter. Autus Asset Management LLC boosted its stake in shares of American Tower by 45.4% during the 2nd quarter. Autus Asset Management LLC now owns 7,391 shares of the real estate investment trust’s stock worth $1,511,000 after buying an additional 2,309 shares during the last quarter. Finally, Meridian Wealth Management LLC boosted its stake in shares of American Tower by 56.3% during the 1st quarter. Meridian Wealth Management LLC now owns 4,133 shares of the real estate investment trust’s stock worth $814,000 after buying an additional 1,488 shares during the last quarter. 93.22% of the stock is owned by hedge funds and other institutional investors.

AMT has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of American Tower from $185.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. UBS Group downgraded shares of American Tower from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $195.00 to $222.00 in a research note on Friday, June 7th. SunTrust Banks raised their target price on shares of American Tower to $230.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 target price for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $202.27.

NYSE:AMT traded up $1.31 during mid-day trading on Wednesday, hitting $226.87. The stock had a trading volume of 178,832 shares, compared to its average volume of 1,733,641. American Tower Corp has a twelve month low of $140.40 and a twelve month high of $227.39. The stock has a market cap of $99.70 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 1.81 and a beta of 0.50. The company’s 50 day simple moving average is $212.77 and its 200 day simple moving average is $198.36. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49.

American Tower (NYSE:AMT) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.87 by ($0.91). American Tower had a net margin of 19.30% and a return on equity of 24.75%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.83 billion. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.74 earnings per share. As a group, equities analysts forecast that American Tower Corp will post 7.66 earnings per share for the current year.

In other American Tower news, CEO James D. Taiclet, Jr. sold 57,439 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $207.93, for a total value of $11,943,291.27. Following the transaction, the chief executive officer now directly owns 255,415 shares of the company’s stock, valued at approximately $53,108,440.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David E. Sharbutt sold 2,039 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $217.59, for a total transaction of $443,666.01. Following the completion of the transaction, the director now directly owns 3,936 shares in the company, valued at $856,434.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,020 shares of company stock worth $39,584,998. Insiders own 0.75% of the company’s stock.

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 approximately 171,000 communications sites.

Recommended Story: How does a reverse stock split work?

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.