Centaurus Financial Inc. Cuts Its Stock Holdings in American Tower Co. (NYSE: AMT) 2023

In the third quarter, Centaurus Financial Inc. reduced its position in American Tower Co. (NYSE: AMT – Get Rating) by 8.6%, according to the company’s most recent filing with the Securities and Exchange Commission. The institutional investor had 5,694 shares of the REIT’s stock following the sale of 538 shares during the period. The value of Centaurus Financial Inc.’s American Tower holdings at the conclusion of the most recent reporting period was $1,223,000.

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The number of other hedge funds have lately increased or decreased their holdings of AMT. In the third quarter, Vanguard Group Inc. increased its holdings in shares of American Tower by 0.7%. After acquiring an additional 406,906 shares during the most recent quarter, Vanguard Group Inc. now holds a total of 60,720,664 shares of the REIT’s stock, valued at $13,036,726,000. State Street Corporation increased its holdings in American Tower shares by 0.5% in the second quarter. State Street Corp now owns 21,350,193 shares of the REIT’s stock worth $5,486,565,000 after acquiring an additional 96,970 shares in the last recent quarter. FMR LLC increased its holdings in American Tower shares by 23.3% in the second quarter. FMR LLC now owns 9,329,088 shares of the REIT’s stock worth $2,384,422,000 after acquiring an additional 1,762,240 shares in the last recent quarter. In the third quarter, Dimensional Fund Advisors LP increased its holdings in American Tower shares by 1.5%. Dimensional Fund Advisors LP now owns 6,223,809 shares of the REIT’s stock worth $1,336,250,000 after acquiring an additional 91,188 shares in the last recent quarter. In the second quarter, Deutsche Bank AG increased its holding in American Tower shares by 43.5%. Deutsche Bank AG now owns 6,201,455 shares of the REIT’s stock worth $1,585,028,000 after acquiring an additional 1,879,085 shares in the last recent quarter. The stock is owned by hedge funds and other institutional investors to the extent of 89.65%.

Wall Street Analysts Predict Expansion

Many analysts have lately published research on the stock. In a report published on Monday, March 6th, Royal Bank of Canada dropped their target price on shares of American Tower from $240.00 to $230.00 and set a “outperform” rating on the stock. Wednesday, December 14th, Wells Fargo & Company increased their price objective on shares of American Tower from $225.00 to $245.00 in a research report. Tuesday, January 10th, Goldman Sachs Group upgraded shares of American Tower from a “neutral” rating to a “buy” rating and increased their target price for the stock from $215.00 to $245.00. Monday, January 23rd, Morgan Stanley upped their price target on shares of American Tower from $219.00 to $224.00 and assigned the stock a “equal weight” rating. In a research report published on Wednesday, February 8th, Barclays dropped their target price on shares of American Tower from $247.00 to $246.00 and assigned the stock a “overweight” rating. Two research analysts have assigned the stock a hold rating, while thirteen have assigned the stock a buy rating. American Tower has a consensus rating of “Moderate Buy” and an average price target of $260.31, according to data from MarketBeat.com.

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On Monday, February 6th, Director Samme L. Thompson sold 1,739 shares of American Tower stock. The transaction totaled $380,128.01 after the shares were sold at an average price of $218.59. The director now owns 22,099 shares of the company’s stock worth approximately $4,830,620.41 after the transaction. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which may be seen via this link. On Monday, February 6th, Director Samme L. Thompson sold 1,739 shares of American Tower stock. The transaction totaled $380,128.01 after the shares were sold at an average price of $218.59. The director now owns 22,099 shares of the company’s stock worth approximately $4,830,620.41 after the transaction. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which may be seen via this link. Also, on January 9th, CFO Rodney M. Smith sold 2,035 shares of American Tower stock. At an average price of $220.85 per share, the stock was sold for a total of $449,429.75. With the transaction, the chief financial officer now directly owns 48,645 company shares worth roughly $10,743,248.25. Below is the disclosure for this transaction. In the most recent quarter, insiders sold 8,587 shares of company stock valued at $1,947,849. Insiders hold 0.24 percent of the company’s shares.

American Tower Stock Results


Friday’s opening price for AMT stock was $205.05 The firm’s fifty-day simple moving average is $212.61, while its 200-day simple moving average is $216.18. The 52-week low for American Tower Co. is $178.17 and the 52-week high is $282.47. Current ratio is 0.54, quick ratio is 0.54, and debt-to-equity ratio is 2.75 for this firm. The firm’s market capitalization is $95.48 billion, its P/E ratio is 53.40, its P/E/G ratio is 2.11, and its beta is 0.56.

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