World Asset Management Inc lowered its position in American Tower Corporation (REIT) (NYSE:AMT) by 10.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,421 shares of the real estate investment trust’s stock after selling 5,356 shares during the period. World Asset Management Inc’s holdings in American Tower Corporation (REIT) were worth $6,275,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Alexandria Capital LLC boosted 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 last quarter. Webster Bank N. A. boosted its position 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 valued at $122,000 after buying an additional 465 shares in the last quarter. Heritage Trust Co acquired a new position in shares of American Tower Corporation (REIT) during the first quarter valued at approximately $122,000. Farmers & Merchants Investments Inc. boosted its position 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 valued at $157,000 after buying an additional 500 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted 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 valued at $163,000 after buying an additional 15 shares in the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

Shares of American Tower Corporation (AMT) opened at 137.85 on Thursday. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $139.50. The stock has a market capitalization of $59.16 billion, a PE ratio of 55.14 and a beta of 0.71. The stock’s 50 day moving average is $134.81 and its 200 day moving average is $123.63.

American Tower Corporation (REIT) (NYSE:AMT) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Zacks’ 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 company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company earned $1.38 earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. Equities research analysts expect that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

The business 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 represents a $2.56 dividend on an annualized basis and a yield of 1.86%. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, June 15th. American Tower Corporation (REIT)’s dividend payout ratio is 102.81%.

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Several equities analysts have commented on the stock. Zacks Investment Research cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. reissued an “outperform” rating on shares of American Tower Corporation (REIT) in a research report on Monday, June 12th. Royal Bank Of Canada raised their price target on shares of American Tower Corporation (REIT) from $134.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Citigroup Inc. cut shares of 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. Finally, BidaskClub cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $142.67.

In other American Tower Corporation (REIT) news, Director David E. Sharbutt sold 3,653 shares of the stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $128.61, for a total transaction of $469,812.33. Following the transaction, the director now directly owns 10,098 shares in the company, valued at approximately $1,298,703.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven C. Marshall sold 20,548 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

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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