River Wealth Advisors LLC increased its position in American Tower Corporation (REIT) (NYSE:AMT) by 0.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,929 shares of the real estate investment trust’s stock after buying an additional 1 shares during the period. River Wealth Advisors LLC’s holdings in American Tower Corporation (REIT) were worth $234,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CENTRAL TRUST Co raised its position in shares of American Tower Corporation (REIT) by 24.3% in the first quarter. CENTRAL TRUST Co now owns 4,134 shares of the real estate investment trust’s stock valued at $503,000 after buying an additional 807 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in American Tower Corporation (REIT) by 3.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 369,296 shares of the real estate investment trust’s stock valued at $44,885,000 after buying an additional 12,156 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in American Tower Corporation (REIT) by 0.9% in the first quarter. Integrated Investment Consultants LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 13 shares in the last quarter. Bath Savings Trust Co boosted its position in American Tower Corporation (REIT) by 6.7% in the first quarter. Bath Savings Trust Co now owns 37,845 shares of the real estate investment trust’s stock valued at $4,599,000 after buying an additional 2,375 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in American Tower Corporation (REIT) during the fourth quarter valued at $1,456,000. 93.26% of the stock is currently owned by institutional investors and hedge funds.

American Tower Corporation (NYSE AMT) traded down 0.59% on Thursday, reaching $137.15. 1,661,887 shares of the company’s stock were exchanged. The company has a market cap of $58.86 billion, a P/E ratio of 54.86 and a beta of 0.71. American Tower Corporation has a 12-month low of $99.72 and a 12-month high of $139.50. The firm has a 50 day moving average of $133.71 and a 200-day moving average of $122.47.

American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $1.55 by $0.75. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the firm posted $1.38 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts expect that American Tower Corporation will post $3.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, June 19th were given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 1.87%. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, June 15th. American Tower Corporation (REIT)’s payout ratio is currently 102.81%.

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Several analysts recently commented on AMT shares. BidaskClub lowered American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research report on Thursday. Cowen and Company reiterated a “buy” rating and issued a $155.00 target price on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Deutsche Bank AG upped their price objective on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $150.00 price objective on shares of American Tower Corporation (REIT) in a research report on Thursday, July 6th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $142.67.

In other news, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amit Sharma sold 61,096 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $126.57, for a total transaction of $7,732,920.72. Following the completion of the sale, the executive vice president now owns 177,556 shares of the company’s stock, valued at $22,473,262.92. The disclosure for this sale can be found here. Insiders sold 85,297 shares of company stock valued at $10,975,069 over the last three months. Insiders own 0.86% of the company’s stock.

About American Tower Corporation (REIT)

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.

Institutional Ownership by Quarter for American Tower Corporation (REIT) (NYSE:AMT)

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