Northeast Investment Management cut its stake in American Tower Corporation (REIT) (NYSE:AMT) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 168,351 shares of the real estate investment trust’s stock after selling 2,747 shares during the period. American Tower Corporation (REIT) comprises 2.0% of Northeast Investment Management’s holdings, making the stock its 13th largest position. Northeast Investment Management’s holdings in American Tower Corporation (REIT) were worth $22,276,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Security National Trust Co. acquired a new position in American Tower Corporation (REIT) during the second quarter valued at $174,000. Pegasus Partners Ltd. acquired a new position in American Tower Corporation (REIT) during the second quarter valued at $1,010,000. Bridgewater Wealth & Financial Management LLC acquired a new position in American Tower Corporation (REIT) during the second quarter valued at $281,000. Aspiriant LLC acquired a new position in American Tower Corporation (REIT) during the second quarter valued at $286,000. Finally, Ballentine Partners LLC boosted its position in American Tower Corporation (REIT) by 14.7% in the second quarter. Ballentine Partners LLC now owns 2,299 shares of the real estate investment trust’s stock valued at $310,000 after buying an additional 294 shares in the last quarter. 92.36% of the stock is currently owned by institutional investors and hedge funds.

American Tower Corporation (NYSE AMT) opened at 140.00 on Monday. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $141.51. The stock has a 50 day moving average price of $136.09 and a 200-day moving average price of $125.24. The company has a market cap of $60.08 billion, a price-to-earnings ratio of 56.00 and a beta of 0.71.

American Tower Corporation (REIT) (NYSE:AMT) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by $0.75. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 earnings per share. On average, equities research analysts forecast that American Tower Corporation will post $3.02 EPS for the current year.

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Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research note on Thursday, August 3rd. Argus boosted their price target on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. BidaskClub cut American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Cowen and Company restated a “buy” rating and issued a $155.00 price target on shares of American Tower Corporation (REIT) in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG boosted their price target on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $142.67.

In other 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 transaction of $2,772,336.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.

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

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