Gamco Investors INC. ET AL boosted its stake in shares of American Tower Corporation (REIT) (NYSE:AMT) by 34.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,448 shares of the real estate investment trust’s stock after buying an additional 5,019 shares during the period. Gamco Investors INC. ET AL’s holdings in American Tower Corporation (REIT) were worth $2,573,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AMT. Shine Investment Advisory Services Inc. purchased a new stake in shares of American Tower Corporation (REIT) during the second quarter valued at $100,000. Alexandria Capital LLC raised its stake in shares of American Tower Corporation (REIT) by 0.5% in the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 4 shares during the period. Heritage Trust Co purchased a new stake in shares of American Tower Corporation (REIT) during the first quarter valued at $122,000. Webster Bank N. A. raised its stake in shares of 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 valued at $122,000 after buying an additional 465 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of American Tower Corporation (REIT) by 72.6% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,189 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 92.36% of the company’s stock.

American Tower Corporation (NYSE:AMT) opened at 144.24 on Friday. The firm has a market capitalization of $61.90 billion, a price-to-earnings ratio of 57.70 and a beta of 0.71. The company’s 50-day moving average price is $137.50 and its 200 day moving average price is $126.63. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $146.09.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.55 by $0.75. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. American Tower Corporation (REIT)’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $1.38 EPS. Equities analysts predict that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

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Several brokerages have recently commented on AMT. BidaskClub raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Zacks Investment Research raised 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, August 3rd. Argus upped 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, August 3rd. Deutsche Bank AG upped their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a report on Friday, July 14th. Finally, Stifel Nicolaus reaffirmed 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 research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently 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 stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total transaction of $2,772,336.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Amit Sharma sold 20,747 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the transaction, the executive vice president now directly owns 101,605 shares in the company, valued at approximately $14,191,170.35. The disclosure for this sale can be found here. 0.86% of the stock is owned by corporate 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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