Exxonmobil Investment Management Inc. TX cut its position in American Tower Corporation (REIT) (NYSE:AMT) by 14.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 81,601 shares of the real estate investment trust’s stock after selling 13,264 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in American Tower Corporation (REIT) were worth $10,797,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Integrated Investment Consultants LLC boosted its stake 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. Guardian Life Insurance Co. of America boosted its stake in shares of American Tower Corporation (REIT) by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 1,650 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 19 shares in the last quarter. Homrich & Berg boosted its stake in shares of American Tower Corporation (REIT) by 0.3% in the first quarter. Homrich & Berg now owns 7,046 shares of the real estate investment trust’s stock valued at $856,000 after buying an additional 24 shares in the last quarter. CHICAGO TRUST Co NA boosted its stake in shares of American Tower Corporation (REIT) by 1.5% in the second quarter. CHICAGO TRUST Co NA now owns 2,010 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 30 shares in the last quarter. Finally, iAB Financial Bank boosted its stake in shares of American Tower Corporation (REIT) by 1.8% in the first quarter. iAB Financial Bank now owns 2,035 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Shares of American Tower Corporation (AMT) traded up 0.36% on Monday, hitting $138.07. The stock had a trading volume of 975,928 shares. The company has a market cap of $59.26 billion, a P/E ratio of 55.23 and a beta of 0.71. The company has a 50-day moving average of $133.71 and a 200-day moving average of $122.47. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $139.50.

American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings results 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. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.38 EPS. On average, equities analysts anticipate that American Tower Corporation will post $3.04 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 19th were issued a $0.64 dividend. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend 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 payout ratio is presently 102.81%.

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Several equities research analysts recently weighed in on the company. Argus increased their target price on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a report on Thursday. BidaskClub upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. 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. Finally, Deutsche Bank AG increased their price objective 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. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $142.67.

In related news, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total value of $2,772,336.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Amit Sharma sold 61,096 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $126.57, for a total value 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 approximately $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 in the last quarter. 0.86% of the stock is owned by company insiders.

American Tower Corporation (REIT) Company Profile

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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