Earnest Partners LLC reduced its stake in shares of American Tower Corporation (REIT) (NYSE:AMT) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557,703 shares of the real estate investment trust’s stock after selling 12,033 shares during the period. Earnest Partners LLC owned 0.13% of American Tower Corporation (REIT) worth $73,795,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in American Tower Corporation (REIT) by 3.2% during the second quarter. Vanguard Group Inc. now owns 28,442,502 shares of the real estate investment trust’s stock valued at $3,763,512,000 after buying an additional 881,020 shares in the last quarter. Wellington Management Group LLP raised its holdings in American Tower Corporation (REIT) by 8.4% during the first quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock valued at $2,648,146,000 after buying an additional 1,679,615 shares in the last quarter. Janus Henderson Group PLC raised its holdings in American Tower Corporation (REIT) by 1,886.3% during the second quarter. Janus Henderson Group PLC now owns 7,468,416 shares of the real estate investment trust’s stock valued at $988,214,000 after buying an additional 7,092,413 shares in the last quarter. Northern Trust Corp raised its holdings in American Tower Corporation (REIT) by 9.2% during the second quarter. Northern Trust Corp now owns 6,566,346 shares of the real estate investment trust’s stock valued at $868,858,000 after buying an additional 550,608 shares in the last quarter. Finally, Edgewood Management LLC raised its holdings in American Tower Corporation (REIT) by 2.6% during the first quarter. Edgewood Management LLC now owns 5,925,839 shares of the real estate investment trust’s stock valued at $720,226,000 after buying an additional 151,527 shares in the last quarter. Institutional investors own 92.07% of the company’s stock.

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In other American Tower Corporation (REIT) news, EVP Edmund Disanto sold 10,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $136.00, for a total value of $1,360,000.00. Following the transaction, the executive vice president now directly owns 151,928 shares of the company’s stock, valued at approximately $20,662,208. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 304,707 shares in the company, valued at $44,453,704.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,747 shares of company stock worth $11,314,943. Insiders own 0.86% of the company’s stock.

Several equities analysts have weighed in on AMT shares. BidaskClub lowered American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a report on Thursday, August 3rd. Jefferies Group LLC restated a “buy” rating and set a $144.00 target price on shares of American Tower Corporation (REIT) in a report on Tuesday, September 12th. Cowen and Company restated a “buy” rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Finally, SunTrust Banks, Inc. restated a “buy” rating on shares of American Tower Corporation (REIT) in a report on Wednesday, September 20th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $148.58.

Shares of American Tower Corporation (NYSE:AMT) traded down 0.10% during trading on Friday, reaching $139.11. The company had a trading volume of 1,377,189 shares. The firm has a 50 day moving average price of $141.98 and a 200 day moving average price of $132.91. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $148.71. The company has a market cap of $59.70 billion, a price-to-earnings ratio of 55.64 and a beta of 0.69.

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 for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.75). The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.38 earnings per share. Analysts predict that American Tower Corporation will post $3.02 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be issued a $0.66 dividend. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a yield of 1.90%. The ex-dividend date is Thursday, September 28th. American Tower Corporation (REIT)’s dividend payout ratio is currently 106.02%.

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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