Vontobel Asset Management Inc. lowered its stake in American Tower Corp. (NYSE:AMT) by 8.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,696,478 shares of the real estate investment trust’s stock after selling 165,338 shares during the period. American Tower Corp. comprises 1.6% of Vontobel Asset Management Inc.’s holdings, making the stock its 24th largest position. Vontobel Asset Management Inc. owned 0.40% of American Tower Corp. worth $198,760,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of American Tower Corp. by 1.7% in the second quarter. Vanguard Group Inc. now owns 25,767,548 shares of the real estate investment trust’s stock valued at $2,927,451,000 after buying an additional 441,783 shares during the period. Standard Life Investments LTD boosted its stake in shares of American Tower Corp. by 5.6% in the second quarter. Standard Life Investments LTD now owns 4,467,595 shares of the real estate investment trust’s stock valued at $507,519,000 after buying an additional 238,684 shares during the period. Cohen & Steers Inc. boosted its stake in shares of American Tower Corp. by 50.7% in the second quarter. Cohen & Steers Inc. now owns 3,803,923 shares of the real estate investment trust’s stock valued at $77,904,000 after buying an additional 1,280,386 shares during the period. Principal Financial Group Inc. boosted its stake in shares of American Tower Corp. by 2.3% in the second quarter. Principal Financial Group Inc. now owns 2,428,981 shares of the real estate investment trust’s stock valued at $275,955,000 after buying an additional 54,483 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of American Tower Corp. by 7.8% in the second quarter. American Century Companies Inc. now owns 2,403,790 shares of the real estate investment trust’s stock valued at $273,095,000 after buying an additional 173,514 shares during the period. 94.31% of the stock is currently owned by institutional investors.

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

Shares of American Tower Corp. (NYSE:AMT) traded up 0.78% during trading on Monday, reaching $105.91. The company had a trading volume of 2,943,965 shares. The firm has a 50-day moving average price of $111.56 and a 200-day moving average price of $111.50. American Tower Corp. has a 52-week low of $83.07 and a 52-week high of $118.26. The company has a market capitalization of $45.08 billion, a P/E ratio of 53.01 and a beta of 0.69.

American Tower Corp. (NYSE:AMT) last released its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. American Tower Corp. had a return on equity of 14.05% and a net margin of 17.37%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 EPS. On average, analysts predict that American Tower Corp. will post $5.74 EPS for the current fiscal year.

Several brokerages have recently weighed in on AMT. Zacks Investment Research raised shares of American Tower Corp. from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Monday, November 14th. Stifel Nicolaus boosted their price target on shares of American Tower Corp. from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, October 31st. Deutsche Bank AG reissued a “buy” rating and set a $135.00 price target on shares of American Tower Corp. in a research report on Friday, November 4th. SunTrust Banks Inc. began coverage on shares of American Tower Corp. in a research report on Monday, September 12th. They set a “buy” rating and a $128.00 price target on the stock. Finally, Jefferies Group reissued a “buy” rating on shares of American Tower Corp. in a research report on Saturday, August 6th. One equities research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. American Tower Corp. currently has a consensus rating of “Buy” and a consensus target price of $123.44.

In related news, Director Carolyn Katz sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $116.34, for a total transaction of $581,700.00. Following the sale, the director now directly owns 14,484 shares in the company, valued at approximately $1,685,068.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Samme L. Thompson sold 2,202 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $116.13, for a total value of $255,718.26. Following the sale, the director now owns 16,063 shares in the company, valued at $1,865,396.19. The disclosure for this sale can be found here. 0.95% of the stock is owned by insiders.

About American Tower Corp.

American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.

5 Day Chart for NYSE:AMT

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