Telemus Capital LLC increased its position in American Tower Corporation (REIT) (NYSE:AMT) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,484 shares of the real estate investment trust’s stock after buying an additional 313 shares during the period. American Tower Corporation (REIT) accounts for approximately 0.7% of Telemus Capital LLC’s portfolio, making the stock its 28th largest position. Telemus Capital LLC’s holdings in American Tower Corporation (REIT) were worth $5,357,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AMT. Alexandria Capital LLC increased 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 in the last quarter. Cornerstone Advisors Inc. increased 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 in the last quarter. Guardian Life Insurance Co. of America increased 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 in the last quarter. Homrich & Berg increased 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 in the last quarter. Finally, CHICAGO TRUST Co NA increased 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 in the last quarter. 93.40% of the stock is currently owned by institutional investors.

Shares of American Tower Corporation (NYSE AMT) opened at 136.83 on Friday. The stock has a market cap of $58.72 billion, a P/E ratio of 54.73 and a beta of 0.71. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $139.50. The company’s 50-day moving average is $134.98 and its 200 day moving average is $123.72.

American Tower Corporation (REIT) (NYSE:AMT) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by $0.75. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 earnings per share. Equities research analysts anticipate that American Tower Corporation will post $3.02 EPS 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 given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 1.87%. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, June 15th. American Tower Corporation (REIT)’s payout ratio is currently 102.81%.

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A number of research firms have weighed in on AMT. Cowen and Company reaffirmed a “buy” rating and set a $155.00 price target on shares of American Tower Corporation (REIT) in a research note on Wednesday, July 19th. Citigroup Inc. downgraded shares of American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price target on the stock. in a research note on Monday, June 12th. BidaskClub downgraded shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research note on Thursday, August 3rd. Finally, Raymond James Financial, Inc. reissued an “outperform” rating on shares of American Tower Corporation (REIT) in a research note on Monday, June 12th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. American Tower Corporation (REIT) has a consensus rating of “Buy” and an average price target of $142.67.

In other American Tower Corporation (REIT) news, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 of the company’s stock, valued at $1,298,703.78. The disclosure for this sale can be found here. 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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