NJ State Employees Deferred Compensation Plan held its position in shares of American Tower Corporation (REIT) (NYSE:AMT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the real estate investment trust’s stock at the end of the second quarter. American Tower Corporation (REIT) makes up approximately 0.7% of NJ State Employees Deferred Compensation Plan’s holdings, making the stock its 19th largest position. NJ State Employees Deferred Compensation Plan’s holdings in American Tower Corporation (REIT) were worth $3,970,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alexandria Capital LLC increased 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 worth $107,000 after buying an additional 4 shares during the period. Cornerstone Advisors Inc. increased its position 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 period. Guardian Life Insurance Co. of America increased its position in shares of 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 increased its position in shares of 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 increased its position in shares of 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 own 93.40% of the company’s stock.

American Tower Corporation (NYSE:AMT) opened at 136.63 on Wednesday. The company has a market capitalization of $58.64 billion, a P/E ratio of 54.65 and a beta of 0.71. The firm has a 50-day moving average of $134.32 and a 200 day moving average of $122.79. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $139.50.

American Tower Corporation (REIT) (NYSE:AMT) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm earned $1.38 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts predict that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 19th were paid a $0.64 dividend. 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 1.87%. The ex-dividend date of this dividend was Thursday, June 15th. American Tower Corporation (REIT)’s payout ratio is currently 102.81%.

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A number of brokerages recently weighed in on AMT. Cowen and Company restated a “buy” rating and set a $155.00 price objective on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Citigroup Inc. downgraded shares of American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price objective on the stock. in a research report on Monday, June 12th. BidaskClub downgraded shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research report on Thursday, August 3rd. 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 investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $142.67.

In other American Tower Corporation (REIT) news, EVP Steven C. Marshall sold 20,548 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total transaction of $2,772,336.16. 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 on Thursday, May 11th. The stock was sold at an average price of $126.57, for a total transaction of $7,732,920.72. Following the transaction, 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 sold 85,297 shares of company stock valued at $10,975,069. Company insiders own 0.86% of the company’s stock.

About American Tower Corporation (REIT)

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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