Gs Investments Inc. bought a new position in shares of American Tower Corporation (REIT) (NYSE:AMT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,140 shares of the real estate investment trust’s stock, valued at approximately $812,000.

Several other hedge funds have also recently modified their holdings of AMT. Shine Investment Advisory Services Inc. acquired a new position in shares of American Tower Corporation (REIT) during the second quarter worth $100,000. Alexandria Capital LLC lifted its position in 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 acquiring an additional 4 shares during the last quarter. Peddock Capital Advisors LLC purchased a new stake in American Tower Corporation (REIT) in the second quarter valued at $119,000. Glassman Wealth Services lifted its position in 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 acquiring an additional 231 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in 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 acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Cowen and Company reissued a “buy” rating and issued a $155.00 price target on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research report on Thursday, August 3rd. BidaskClub raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. SunTrust Banks, Inc. reissued a “buy” rating on shares of American Tower Corporation (REIT) in a research report on Wednesday, September 20th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $144.00 price target on shares of American Tower Corporation (REIT) in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. American Tower Corporation (REIT) presently has a consensus rating of “Buy” and a consensus target price of $148.58.

Shares of American Tower Corporation (AMT) traded up 0.92% during midday trading on Friday, hitting $139.67. 275,749 shares of the stock were exchanged. The firm has a 50-day moving average price of $140.67 and a 200-day moving average price of $134.13. The company has a market cap of $59.94 billion, a PE ratio of 55.87 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 posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.75). American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the firm posted $1.38 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities analysts predict that American Tower Corporation will post $3.04 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th were issued a $0.66 dividend. The ex-dividend date of this dividend was 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 1.91%. American Tower Corporation (REIT)’s payout ratio is 106.02%.

In other news, EVP Amit Sharma sold 20,747 shares of American Tower Corporation (REIT) stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $139.67, for a total value of $2,897,733.49. Following the completion of the transaction, the executive vice president now directly owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of American Tower Corporation (REIT) stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $139.40, for a total transaction of $4,739,600.00. Following the completion of the transaction, the chairman now directly owns 304,707 shares of the company’s stock, valued at $42,476,155.80. The disclosure for this sale can be found here. Insiders sold a total of 113,747 shares of company stock valued at $16,054,543 over the last ninety days. Company insiders own 0.86% of the company’s stock.

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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.

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Institutional Ownership by Quarter for American Tower Corporation (REIT) (NYSE:AMT)

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