Ingalls & Snyder LLC reduced its stake in American Tower Corporation (REIT) (NYSE:AMT) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 8,935 shares of the real estate investment trust’s stock after selling 5 shares during the period. Ingalls & Snyder LLC’s holdings in American Tower Corporation (REIT) were worth $1,182,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in American Tower Corporation (REIT) by 8.4% in the first quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock valued at $2,648,146,000 after buying an additional 1,679,615 shares during the last quarter. American Century Companies Inc. increased its stake in American Tower Corporation (REIT) by 60.8% in the first quarter. American Century Companies Inc. now owns 3,986,977 shares of the real estate investment trust’s stock valued at $484,577,000 after buying an additional 1,507,172 shares during the last quarter. Vanguard Group Inc. increased its stake in American Tower Corporation (REIT) by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,561,482 shares of the real estate investment trust’s stock valued at $3,349,823,000 after buying an additional 1,008,946 shares during the last quarter. Prudential Financial Inc. increased its stake in American Tower Corporation (REIT) by 99.4% in the first quarter. Prudential Financial Inc. now owns 1,253,277 shares of the real estate investment trust’s stock valued at $152,323,000 after buying an additional 624,789 shares during the last quarter. Finally, APG Asset Management N.V. increased its stake in American Tower Corporation (REIT) by 40.9% in the first quarter. APG Asset Management N.V. now owns 2,136,874 shares of the real estate investment trust’s stock valued at $259,716,000 after buying an additional 620,707 shares during the last quarter. Institutional investors own 93.40% of the company’s stock.

American Tower Corporation (AMT) opened at 137.85 on Thursday. The stock has a market capitalization of $59.16 billion, a PE ratio of 55.14 and a beta of 0.71. The firm has a 50-day moving average price of $134.81 and a 200 day moving average price of $123.63. American Tower Corporation has a 12 month low of $99.72 and a 12 month 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. The business 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%. American Tower Corporation (REIT)’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $1.38 EPS. Equities analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current year.

The firm also recently announced 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 boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $2.56 annualized dividend and a yield of 1.86%. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is 102.81%.

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AMT has been the subject of several research analyst reports. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Thursday, May 4th. Royal Bank Of Canada lifted their price objective on American Tower Corporation (REIT) from $134.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. BidaskClub downgraded American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Citigroup Inc. downgraded American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price objective for the company. in a report on Monday, June 12th. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating on shares of American Tower Corporation (REIT) in a report on Monday, June 12th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $142.67.

In other news, Director David E. Sharbutt sold 3,653 shares of American Tower Corporation (REIT) stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $128.61, for a total value of $469,812.33. Following the completion of the sale, the director now directly owns 10,098 shares of the company’s stock, valued at $1,298,703.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven C. Marshall sold 20,548 shares of American Tower Corporation (REIT) stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The disclosure for this sale can be found here. 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.

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

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