Carnegie Capital Asset Management LLC cut its stake in shares of American Tower Corporation (REIT) (NYSE:AMT) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,551 shares of the real estate investment trust’s stock after selling 3,479 shares during the period. American Tower Corporation (REIT) makes up approximately 1.4% of Carnegie Capital Asset Management LLC’s investment portfolio, making the stock its 13th largest holding. Carnegie Capital Asset Management LLC’s holdings in American Tower Corporation (REIT) were worth $11,095,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. acquired a new stake in shares of American Tower Corporation (REIT) during the second quarter worth $100,000. Alexandria Capital LLC grew its stake in shares of American Tower Corporation (REIT) by 0.5% during the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 4 shares during the period. Peddock Capital Advisors LLC acquired a new stake in shares of American Tower Corporation (REIT) during the second quarter worth $119,000. Heritage Trust Co acquired a new stake in shares of American Tower Corporation (REIT) during the first quarter worth $122,000. Finally, Glassman Wealth Services grew its stake in shares of American Tower Corporation (REIT) by 28.9% during the second quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 231 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Amit Sharma sold 20,747 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $139.67, for a total value of $2,897,733.49. Following the completion of the sale, the executive vice president now directly owns 101,605 shares in the company, valued at approximately $14,191,170.35. 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 the firm’s stock in a transaction dated 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 owns 17,758 shares of the company’s stock, valued at $2,548,095.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,747 shares of company stock valued at $9,954,943. Corporate insiders own 0.86% of the company’s stock.

American Tower Corporation (NYSE:AMT) traded up 1.03% on Thursday, hitting $135.46. The stock had a trading volume of 480,293 shares. The stock has a market capitalization of $58.14 billion, a price-to-earnings ratio of 54.18 and a beta of 0.70. The company has a 50-day moving average price of $142.16 and a 200-day moving average price of $131.01. American Tower Corporation has a 52 week low of $99.72 and a 52 week 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 Thomson Reuters’ 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 business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the business posted $1.38 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. Equities research analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be given a $0.66 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 1.94%. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is 102.81%.

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A number of equities research analysts recently commented on the company. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of American Tower Corporation (REIT) in a research note on Wednesday, September 20th. BidaskClub raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research note 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 price objective for the company in a research note on Thursday, August 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $144.00 target price on shares of American Tower Corporation (REIT) in a research note on Tuesday, September 12th. Finally, Deutsche Bank AG boosted their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Fourteen research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $148.58.

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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