Harbour Capital Advisors LLC increased its position in American Tower Corporation (REIT) (NYSE:AMT) by 13,132.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,733 shares of the real estate investment trust’s stock after buying an additional 69,206 shares during the period. Harbour Capital Advisors LLC’s holdings in American Tower Corporation (REIT) were worth $527,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Alexandria Capital LLC boosted its stake 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 worth $107,000 after buying an additional 4 shares during the last quarter. Webster Bank N. A. boosted its stake in shares of American Tower Corporation (REIT) by 86.1% in the first quarter. Webster Bank N. A. now owns 1,005 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 465 shares during the last quarter. Heritage Trust Co bought a new stake in shares of American Tower Corporation (REIT) during the first quarter worth approximately $122,000. Farmers & Merchants Investments Inc. boosted its stake 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 worth $157,000 after buying an additional 500 shares during the last quarter. Finally, Cornerstone Advisors Inc. boosted its stake in shares of 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 last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

American Tower Corporation (NYSE:AMT) opened at 137.57 on Monday. American Tower Corporation has a 52 week low of $99.72 and a 52 week high of $139.50. The company’s 50-day moving average price is $133.71 and its 200-day moving average price is $122.47. The company has a market capitalization of $59.04 billion, a price-to-earnings ratio of 55.03 and a beta of 0.71.

American Tower Corporation (REIT) (NYSE:AMT) last announced 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. 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 analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the firm earned $1.38 EPS. American Tower Corporation (REIT)’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts forecast that American Tower Corporation will post $3.04 earnings per share for the current fiscal year.

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

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Several research firms recently issued reports on AMT. Guggenheim upgraded American Tower Corporation (REIT) from a “neutral” rating to a “buy” rating and increased their target price for the stock from $117.00 to $135.00 in a research report on Monday, April 10th. Cowen and Company reiterated a “buy” rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Deutsche Bank AG increased their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating and set a $150.00 target price on shares of American Tower Corporation (REIT) in a research report on Thursday, July 6th. Finally, Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research report on Thursday, May 4th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $142.67.

In other American Tower Corporation (REIT) news, Director David E. Sharbutt sold 3,653 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 10,098 shares in the company, valued at approximately $1,298,703.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Amit Sharma sold 61,096 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 177,556 shares of the company’s stock, valued at $22,473,262.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,297 shares of company stock valued at $10,975,069. 0.86% of the stock is owned by company 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.

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

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