First Heartland Consultants Inc. raised its position in American Tower Corporation (REIT) (NYSE:AMT) by 0.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,617 shares of the real estate investment trust’s stock after buying an additional 4 shares during the period. First Heartland Consultants Inc.’s holdings in American Tower Corporation (REIT) were worth $318,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Webster Bank N. A. raised its position in American Tower Corporation (REIT) by 86.1% in the first quarter. Webster Bank N. A. now owns 1,005 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 465 shares during the last quarter. Heritage Trust Co acquired a new position in shares of American Tower Corporation (REIT) during the first quarter valued at $122,000. Norway Savings Bank raised its position in shares of American Tower Corporation (REIT) by 85.2% in the first quarter. Norway Savings Bank now owns 1,435 shares of the real estate investment trust’s stock valued at $174,000 after buying an additional 660 shares in the last quarter. Integrated Investment Consultants LLC raised its position in shares of 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. Finally, Spinnaker Trust acquired a new position in shares of American Tower Corporation (REIT) during the first quarter valued at $201,000. 93.26% of the stock is owned by hedge funds and other institutional investors.

Shares of American Tower Corporation (NYSE:AMT) traded up 0.31% during trading on Friday, hitting $137.57. 927,911 shares of the company were exchanged. The stock has a market cap of $59.04 billion, a P/E ratio of 55.03 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 company’s 50-day moving average price is $133.71 and its 200 day moving average price is $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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company posted $1.38 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts predict that American Tower Corporation will post $3.04 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 19th were paid a $0.64 dividend. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, June 15th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.86%. American Tower Corporation (REIT)’s dividend payout ratio is currently 102.81%.

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Several equities research analysts recently issued reports on AMT shares. BidaskClub cut 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 price objective on the stock in a report on Thursday. Cowen and Company reiterated a “buy” rating and issued a $155.00 price objective on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Deutsche Bank AG boosted their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Finally, Stifel Nicolaus restated a “buy” rating and set a $150.00 target price on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $142.67.

In related news, Director David E. Sharbutt sold 3,653 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $128.61, for a total transaction of $469,812.33. Following the completion of the sale, the director now owns 10,098 shares in the company, valued at approximately $1,298,703.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven C. Marshall sold 20,548 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total transaction of $2,772,336.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,297 shares of company stock valued at $10,975,069. Corporate 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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