Janney Capital Management LLC reduced its position in shares of American Tower Corporation (REIT) (NYSE:AMT) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,314 shares of the real estate investment trust’s stock after selling 2,782 shares during the period. Janney Capital Management LLC’s holdings in American Tower Corporation (REIT) were worth $11,950,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Alexandria Capital LLC raised 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 worth $107,000 after buying an additional 4 shares during the period. Cornerstone Advisors Inc. raised its position in American Tower Corporation (REIT) by 1.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 15 shares during the period. Guardian Life Insurance Co. of America raised its position in American Tower Corporation (REIT) by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 1,650 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 19 shares during the period. Homrich & Berg raised its position in American Tower Corporation (REIT) by 0.3% in the first quarter. Homrich & Berg now owns 7,046 shares of the real estate investment trust’s stock worth $856,000 after buying an additional 24 shares during the period. Finally, CHICAGO TRUST Co NA raised its position in American Tower Corporation (REIT) by 1.5% in the second quarter. CHICAGO TRUST Co NA now owns 2,010 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 93.40% of the company’s stock.

Shares of American Tower Corporation (AMT) opened at 137.57 on Monday. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $139.50. The stock has a market capitalization of $59.04 billion, a P/E ratio of 55.03 and a beta of 0.71. The stock’s 50 day moving average price is $133.71 and its 200-day moving average price is $122.47.

American Tower Corporation (REIT) (NYSE:AMT) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the consensus estimate of $1.55 by $0.75. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.38 earnings per share. Equities research analysts anticipate that American Tower Corporation will post $3.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 19th were given a dividend of $0.64 per share. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, June 15th. American Tower Corporation (REIT)’s dividend payout ratio is currently 102.81%.

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A number of research firms recently weighed in on AMT. Cowen and Company reiterated 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. Citigroup Inc. lowered American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price target for the company. in a research report on Monday, June 12th. BidaskClub lowered American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research 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 price objective for the company in a research report on Thursday. Finally, Raymond James Financial, Inc. restated an “outperform” rating on shares of American Tower Corporation (REIT) in a research report on Monday, June 12th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. American Tower Corporation (REIT) has a consensus rating of “Buy” and an average price target of $142.67.

In other news, Director David E. Sharbutt sold 3,653 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $128.61, for a total transaction of $469,812.33. Following the completion of the transaction, the director now directly owns 10,098 shares of the company’s stock, valued at $1,298,703.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Amit Sharma sold 61,096 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $126.57, for a total value of $7,732,920.72. Following the transaction, the executive vice president now directly owns 177,556 shares of the company’s stock, valued at $22,473,262.92. The disclosure for this sale can be found here. Insiders have sold 85,297 shares of company stock valued at $10,975,069 over the last ninety days. 0.86% of the stock is owned by insiders.

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.

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

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