Sarasin & Partners LLP raised its stake in shares of American Tower Corp. (NYSE:AMT) by 1,571.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 391,767 shares of the real estate investment trust’s stock after buying an additional 368,326 shares during the period. Sarasin & Partners LLP owned 0.09% of American Tower Corp. worth $44,399,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Capital Analysts LLC raised its position in American Tower Corp. by 158.1% in the second quarter. Capital Analysts LLC now owns 2,395 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 1,467 shares during the period. Financial Architects Inc raised its position in American Tower Corp. by 15.5% in the second quarter. Financial Architects Inc now owns 1,289 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 173 shares during the period. Kernodle & Katon Asset Management Group LLC raised its position in American Tower Corp. by 3.3% in the second quarter. Kernodle & Katon Asset Management Group LLC now owns 1,474 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 47 shares during the period. WFG Advisors LP raised its position in American Tower Corp. by 1.2% in the second quarter. WFG Advisors LP now owns 1,473 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 18 shares during the period. Finally, PineBridge Investments L.P. acquired a new position in American Tower Corp. during the second quarter valued at $173,000. Institutional investors own 92.79% of the company’s stock.

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

Shares of American Tower Corp. (NYSE:AMT) traded down 0.9143% during trading on Wednesday, reaching $105.0804. The company’s stock had a trading volume of 302,173 shares. The company has a market cap of $44.73 billion, a PE ratio of 52.5928 and a beta of 0.69. American Tower Corp. has a 52 week low of $83.07 and a 52 week high of $118.26. The stock’s 50 day moving average price is $111.13 and its 200 day moving average price is $111.64.

American Tower Corp. (NYSE:AMT) last posted its earnings results on Thursday, October 27th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.03. The company earned $1.52 billion during 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 for the quarter was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 EPS. Equities research analysts predict that American Tower Corp. will post $5.73 EPS for the current year.

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AMT has been the subject of several research reports. Zacks Investment Research upgraded shares of American Tower Corp. from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research report on Friday, October 14th. SunTrust Banks Inc. initiated 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 objective for the company. Jefferies Group restated a “buy” rating on shares of American Tower Corp. in a research report on Monday, September 12th. Argus upped their price objective on shares of American Tower Corp. from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Finally, Citigroup Inc. reduced their price objective on shares of American Tower Corp. from $134.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. American Tower Corp. has a consensus rating of “Buy” and an average target price of $123.44.

In other news, Chairman James D. Taiclet, Jr. sold 40,625 shares of American Tower Corp. stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $113.45, for a total transaction of $4,608,906.25. Following the transaction, the chairman now owns 267,142 shares in the company, valued at approximately $30,307,259.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carolyn Katz sold 5,000 shares of American Tower Corp. stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $116.34, for a total value of $581,700.00. Following the transaction, the director now owns 14,484 shares in the company, valued at approximately $1,685,068.56. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.

American Tower Corp. Company Profile

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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