Flinton Capital Management LLC trimmed its holdings in shares of American Tower Corporation (REIT) (NYSE:AMT) by 10.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 308,448 shares of the real estate investment trust’s stock after selling 35,870 shares during the quarter. American Tower Corporation (REIT) comprises about 1.5% of Flinton Capital Management LLC’s holdings, making the stock its 15th largest position. Flinton Capital Management LLC owned 0.07% of American Tower Corporation (REIT) worth $40,814,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AMT. Shine Investment Advisory Services Inc. purchased a new stake in shares of American Tower Corporation (REIT) in the 2nd quarter valued at about $100,000. Alexandria Capital LLC boosted its position in shares of American Tower Corporation (REIT) by 0.5% during the 2nd quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 4 shares during the last quarter. Peddock Capital Advisors LLC bought a new stake in shares of American Tower Corporation (REIT) during the 2nd quarter valued at about $119,000. Glassman Wealth Services boosted its position in shares of American Tower Corporation (REIT) by 28.9% during the 2nd quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 231 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of American Tower Corporation (REIT) by 72.6% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,189 shares of the real estate investment trust’s stock valued at $157,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 92.07% of the company’s stock.

American Tower Corporation (NYSE:AMT) traded up 0.76% during mid-day trading on Tuesday, reaching $136.89. 775,705 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $142.16 and a 200-day moving average price of $132.50. The stock has a market capitalization of $58.75 billion, a PE ratio of 54.76 and a beta of 0.69. American Tower Corporation has a 12-month low of $99.72 and a 12-month high of $148.71.

American Tower Corporation (REIT) (NYSE:AMT) last issued 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 Thomson Reuters’ consensus estimate of $1.55 by ($0.75). The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the company earned $1.38 earnings per share. Equities research analysts expect that American Tower Corporation will post $3.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be issued 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 dividend on an annualized basis and a dividend yield of 1.94%. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is 106.02%.

In related news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the company’s stock in a transaction 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 sale, the chairman now owns 304,707 shares of the company’s stock, valued at $44,453,704.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Amit Sharma sold 20,747 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the sale, 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. Over the last three months, insiders sold 69,747 shares of company stock valued at $9,954,943. 0.86% of the stock is currently owned by insiders.

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Several research analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $153.00 target price on shares of American Tower Corporation (REIT) in a research note on Friday, September 1st. Citigroup Inc. lifted their target price on shares of American Tower Corporation (REIT) from $142.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 28th. UBS AG boosted their price target on shares of American Tower Corporation (REIT) from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, September 11th. BidaskClub raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, Zacks Investment Research lowered shares of American Tower Corporation (REIT) from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $148.58.

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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