King Luther Capital Management Corp Has $14.48 Million Position in American Tower Corp (AMT)
King Luther Capital Management Corp lessened its stake in American Tower Corp (NYSE:AMT) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,926 shares of the real estate investment trust’s stock after selling 1,649 shares during the quarter. King Luther Capital Management Corp’s holdings in American Tower were worth $14,478,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Shine Investment Advisory Services Inc. acquired a new position in American Tower during the second quarter worth about $100,000. Howe & Rusling Inc. raised its stake in American Tower by 1,608.0% during the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 804 shares in the last quarter. Peddock Capital Advisors LLC acquired a new position in American Tower during the second quarter worth about $119,000. Legacy Advisors LLC acquired a new position in American Tower during the third quarter worth about $132,000. Finally, Glassman Wealth Services raised its stake in American Tower by 28.9% during the second quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock worth $136,000 after acquiring an additional 231 shares in the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.
AMT has been the subject of several research analyst reports. SunTrust Banks reissued a “buy” rating on shares of American Tower in a research note on Wednesday, September 20th. Jefferies Group reissued a “buy” rating and set a $144.00 target price on shares of American Tower in a research note on Tuesday, September 12th. UBS boosted their target price on American Tower from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, September 11th. Royal Bank Of Canada reissued a “buy” rating and set a $153.00 target price on shares of American Tower in a research note on Friday, September 1st. Finally, Citigroup boosted their target price on American Tower from $142.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. American Tower has an average rating of “Buy” and a consensus price target of $158.50.
Shares of American Tower Corp (NYSE AMT) opened at $140.76 on Wednesday. The firm has a market capitalization of $59,598.12, a PE ratio of 21.51, a PEG ratio of 1.63 and a beta of 0.73. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42. American Tower Corp has a twelve month low of $100.79 and a twelve month high of $155.28.
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American Tower Profile
American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.
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