Bamco Inc. NY lifted its position in shares of American Tower Corp (NYSE:AMT) by 0.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 463,334 shares of the real estate investment trust’s stock after purchasing an additional 588 shares during the period. Bamco Inc. NY owned about 0.11% of American Tower worth $63,328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in shares of American Tower by 208.8% in the second quarter. Bessemer Group Inc. now owns 5,428 shares of the real estate investment trust’s stock valued at $718,000 after purchasing an additional 3,670 shares during the period. HL Financial Services LLC increased its stake in shares of American Tower by 0.5% during the second quarter. HL Financial Services LLC now owns 3,675 shares of the real estate investment trust’s stock valued at $486,000 after acquiring an additional 19 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in shares of American Tower during the second quarter valued at approximately $100,000. Consolidated Investment Group LLC increased its stake in shares of American Tower by 3.9% during the second quarter. Consolidated Investment Group LLC now owns 26,698 shares of the real estate investment trust’s stock valued at $3,532,000 after acquiring an additional 1,010 shares during the period. Finally, Solaris Asset Management LLC increased its stake in shares of American Tower by 1.9% during the second quarter. Solaris Asset Management LLC now owns 3,476 shares of the real estate investment trust’s stock valued at $460,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 91.89% of the company’s stock.

American Tower Corp (NYSE:AMT) opened at $144.05 on Tuesday. The company has a market cap of $61,099.11, a price-to-earnings ratio of 22.05, a P/E/G ratio of 1.68 and a beta of 0.73. American Tower Corp has a twelve month low of $102.51 and a twelve month high of $155.28. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, December 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.94%. The ex-dividend date is Wednesday, December 27th. This is an increase from American Tower’s previous quarterly dividend of $0.66. American Tower’s dividend payout ratio (DPR) is 100.38%.

American Tower announced that its board has authorized a share buyback program on Thursday, December 7th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

AMT has been the subject of a number of research reports. SunTrust Banks restated a “buy” rating on shares of American Tower in a report on Wednesday, September 20th. Jefferies Group reaffirmed a “buy” rating and issued a $144.00 price objective on shares of American Tower in a research note on Tuesday, September 12th. UBS raised their price objective on shares of American Tower from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, September 11th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $153.00 price objective on shares of American Tower in a research note on Friday, September 1st. Finally, Citigroup raised their price objective on shares of American Tower from $142.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. American Tower presently has a consensus rating of “Buy” and an average target price of $158.50.

In other news, EVP Edmund Disanto sold 10,000 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of American Tower 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 sale, the chairman now owns 304,707 shares in the company, valued at $42,476,155.80. The disclosure for this sale can be found here. Insiders sold a total of 88,000 shares of company stock worth $12,619,900 in the last quarter. Insiders own 0.86% of the company’s stock.

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About American Tower

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 (NYSE:AMT)

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