Capital Innovations LLC purchased a new stake in American Tower Corporation (REIT) (NYSE:AMT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,603 shares of the real estate investment trust’s stock, valued at approximately $212,000.

Other large investors have also modified their holdings of the company. Shine Investment Advisory Services Inc. acquired a new stake in shares of American Tower Corporation (REIT) in the second quarter valued at about $100,000. Alexandria Capital LLC grew its position in shares of American Tower Corporation (REIT) by 0.5% in the second 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 during the last quarter. Peddock Capital Advisors LLC acquired a new stake in shares of American Tower Corporation (REIT) in the second quarter valued at about $119,000. Glassman Wealth Services grew its position in shares of American Tower Corporation (REIT) by 28.9% in the second quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 231 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its position in shares of American Tower Corporation (REIT) by 72.6% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,189 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 500 shares during the last quarter. 92.07% of the stock is currently owned by institutional investors.

American Tower Corporation (AMT) traded up 0.507% during midday trading on Wednesday, reaching $137.785. The company had a trading volume of 882,801 shares. The stock’s 50 day moving average price is $141.80 and its 200-day moving average price is $133.40. The firm has a market capitalization of $59.13 billion, a P/E ratio of 55.114 and a beta of 0.69. 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 announced its 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 business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the company earned $1.38 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current year.

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.93%. 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. American Tower Corporation (REIT)’s dividend payout ratio is presently 106.02%.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. UBS AG lifted their target price on American Tower Corporation (REIT) from $150.00 to $163.00 and gave the stock a “buy” rating in a research report on Monday, September 11th. BidaskClub downgraded American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Argus lifted their target price on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Citigroup Inc. lifted their target price on American Tower Corporation (REIT) from $142.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, August 28th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. American Tower Corporation (REIT) currently has an average rating of “Buy” and an average price target of $148.58.

TRADEMARK VIOLATION WARNING: This piece of content was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/10/11/capital-innovations-llc-purchases-new-stake-in-american-tower-corporation-reit-amt.html.

In other American Tower Corporation (REIT) news, Director Pamela D. A. Reeve sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $143.49, for a total transaction of $717,450.00. Following the transaction, the director now owns 17,758 shares in the company, valued at approximately $2,548,095.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Edmund Disanto sold 10,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $136.00, for a total transaction of $1,360,000.00. Following the transaction, the executive vice president now owns 151,928 shares in the company, valued at approximately $20,662,208. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,747 shares of company stock worth $11,314,943. Company insiders own 0.86% of the company’s stock.

American Tower Corporation (REIT) 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.

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.