Vanguard Group Inc. is Buying American Tower Corp. (NYSE:AMT) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), American Tower Corp. (NYSE:AMT) reported that Vanguard Group Inc. has picked up 26,552,536 of common stock as of 2017-02-09.

The acquisition brings the aggregate amount owned by Vanguard Group Inc. to a total of 26,552,536 representing a 6.23% stake in the company.

For those not familiar with the company, 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. Its primary business is property operations, which include the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities, and tenants in various other industries. Its U.S. property segment includes operations in the United States. Its Asia property segment includes operations in India. The EMEA property segment includes operations in Germany, Ghana, Nigeria, South Africa and Uganda. The Latin America property segment includes operations in Brazil, Chile, Colombia, Costa Rica, Mexico and Peru. Its services segment offers tower-related services in the United States.

A glance at American Tower Corp. (NYSE:AMT)’s key stats reveals a current market capitalization of 44.53 billion based on 426.91 million shares outstanding and a price at last close of $104.30 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2014-08-06, Dykes picked up 2,900 at a purchase price of $95.65. This brings their total holding to 25,285 as of the date of the filing.

On the sell side, the most recent transaction saw Taiclet unload 2,700 shares at a sale price of $104.90. This brings their total holding to 241,587.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on American Tower Corp. (NYSE:AMT) as things move forward to see if its progress aligns with these transactions.

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