Standard Life Investments LTD trimmed its holdings in shares of American Tower Corporation (REIT) (NYSE:AMT) by 10.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,369,326 shares of the real estate investment trust’s stock after selling 526,407 shares during the quarter. American Tower Corporation (REIT) accounts for about 2.0% of Standard Life Investments LTD’s portfolio, making the stock its 8th largest position. Standard Life Investments LTD owned approximately 1.02% of American Tower Corporation (REIT) worth $578,084,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Waldron LP purchased a new stake in American Tower Corporation (REIT) during the 1st quarter valued at about $307,000. Acadian Asset Management LLC grew its stake in American Tower Corporation (REIT) by 296.4% during the 1st quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock valued at $579,000 after purchasing an additional 3,560 shares during the last quarter. APG Asset Management N.V. grew its stake in American Tower Corporation (REIT) by 40.9% during the 1st quarter. APG Asset Management N.V. now owns 2,136,874 shares of the real estate investment trust’s stock valued at $259,716,000 after purchasing an additional 620,707 shares during the last quarter. State Treasurer State of Michigan grew its stake in American Tower Corporation (REIT) by 0.8% during the 1st quarter. State Treasurer State of Michigan now owns 140,326 shares of the real estate investment trust’s stock valued at $17,055,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Alpha Cubed Investments LLC grew its stake in American Tower Corporation (REIT) by 2.6% during the 1st quarter. Alpha Cubed Investments LLC now owns 3,046 shares of the real estate investment trust’s stock valued at $370,000 after purchasing an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 92.09% of the company’s stock.

Several analysts have weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and set a $144.00 price target on shares of American Tower Corporation (REIT) in a research note on Tuesday. UBS AG boosted their price target on American Tower Corporation (REIT) from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank Of Canada reiterated a “buy” rating and set a $153.00 price target on shares of American Tower Corporation (REIT) in a research note on Friday, September 1st. Citigroup Inc. boosted their price target on American Tower Corporation (REIT) from $142.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, BidaskClub upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Thirteen investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $148.58.

Shares of American Tower Corporation (NYSE:AMT) traded down 0.55% during trading on Wednesday, hitting $144.03. The stock had a trading volume of 705,828 shares. The stock’s 50-day moving average is $140.99 and its 200-day moving average is $129.72. American Tower Corporation has a 12-month low of $99.72 and a 12-month high of $148.71. The stock has a market cap of $61.81 billion, a price-to-earnings ratio of 57.61 and a beta of 0.70.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings results 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). American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. 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 prior year, the business earned $1.38 EPS. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts expect that American Tower Corporation will post $3.02 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be issued a dividend of $0.66 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.82%. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is currently 102.81%.

ILLEGAL ACTIVITY NOTICE: This piece of content was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/13/american-tower-corporation-reit-amt-position-trimmed-by-standard-life-investments-ltd.html.

In other American Tower Corporation (REIT) news, EVP Steven C. Marshall sold 20,548 shares of American Tower Corporation (REIT) 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 SEC, which is accessible through this link. Also, Director Pamela D. A. Reeve sold 5,000 shares of American Tower Corporation (REIT) stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $143.49, for a total value of $717,450.00. Following the completion of the sale, the director now directly owns 17,758 shares in the company, valued at approximately $2,548,095.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,295 shares of company stock worth $6,387,520. 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.

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (REIT) (NYSE:AMT).

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

Receive News & Stock Ratings for American Tower Corporation (REIT) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower Corporation (REIT) and related stocks with our FREE daily email newsletter.