Ithaka Group LLC reduced its position in American Tower Corporation (REIT) (NYSE:AMT) by 5.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,200 shares of the real estate investment trust’s stock after selling 200 shares during the period. Ithaka Group LLC’s holdings in American Tower Corporation (REIT) were worth $423,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Alexandria Capital LLC increased its stake in American Tower Corporation (REIT) by 0.5% in the 2nd quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 4 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in American Tower Corporation (REIT) by 1.2% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,235 shares of the real estate investment trust’s stock valued at $163,000 after purchasing an additional 15 shares in the last quarter. Baxter Bros Inc. increased its stake in American Tower Corporation (REIT) by 0.4% in the 2nd quarter. Baxter Bros Inc. now owns 3,470 shares of the real estate investment trust’s stock valued at $459,000 after purchasing an additional 15 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in American Tower Corporation (REIT) by 1.2% in the 1st 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 purchasing an additional 19 shares in the last quarter. Finally, HL Financial Services LLC increased its stake in American Tower Corporation (REIT) by 0.5% in the 2nd quarter. HL Financial Services LLC now owns 3,675 shares of the real estate investment trust’s stock valued at $486,000 after purchasing an additional 19 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have commented on AMT. Jefferies Group LLC reiterated a “buy” rating and set a $144.00 target price on shares of American Tower Corporation (REIT) in a report on Tuesday, September 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $153.00 target price on shares of American Tower Corporation (REIT) in a report on Friday, September 1st. UBS AG increased their target price on American Tower Corporation (REIT) from $150.00 to $163.00 and gave the company a “buy” rating in a report on Monday, September 11th. BidaskClub upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Finally, Citigroup Inc. increased their target price on American Tower Corporation (REIT) from $142.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 28th. Thirteen analysts have rated the stock with a buy rating, American Tower Corporation (REIT) presently has an average rating of “Buy” and a consensus target price of $148.58.

In other American Tower Corporation (REIT) news, Chairman James D. Taiclet, Jr. sold 34,000 shares of American Tower Corporation (REIT) stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $145.89, for a total transaction of $4,960,260.00. Following the transaction, the chairman now directly owns 304,707 shares in the company, valued at approximately $44,453,704.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Amit Sharma sold 20,747 shares of American Tower Corporation (REIT) stock in a transaction that occurred on 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 owns 101,605 shares in the company, valued at $14,191,170.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,295 shares of company stock worth $11,347,780. Corporate insiders own 0.86% of the company’s stock.

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American Tower Corporation (AMT) traded down 2.76% during midday trading on Tuesday, hitting $140.77. The stock had a trading volume of 2,701,044 shares. The stock has a market cap of $60.42 billion, a PE ratio of 56.31 and a beta of 0.70. The firm has a 50 day moving average price of $142.03 and a 200 day moving average price of $130.82. American Tower Corporation has a one year low of $99.72 and a one year high of $148.71.

American Tower Corporation (REIT) (NYSE:AMT) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the 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 firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the firm posted $1.38 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts expect that American Tower Corporation will post $3.02 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.82%. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, September 28th. American Tower Corporation (REIT)’s payout ratio is presently 102.81%.

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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