AT Bancorp reduced its stake in shares of American Tower Corporation (REIT) (NYSE:AMT) by 59.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,733 shares of the real estate investment trust’s stock after selling 5,406 shares during the period. AT Bancorp’s holdings in American Tower Corporation (REIT) were worth $494,000 at the end of the most recent reporting period.

A number of other institutional investors have 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 valued at $107,000 after buying an additional 4 shares in the last quarter. Webster Bank N. A. increased its position in 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 purchased a new position in American Tower Corporation (REIT) during the first quarter valued at approximately $122,000. Farmers & Merchants Investments Inc. increased its position in 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. 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 valued at $163,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

American Tower Corporation (NYSE:AMT) opened at 136.68 on Friday. The company has a market cap of $58.66 billion, a price-to-earnings ratio of 54.67 and a beta of 0.71. The firm has a 50-day moving average price of $135.15 and a 200 day moving average price of $123.95. American Tower Corporation has a one year low of $99.72 and a one year 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 for the quarter, missing analysts’ consensus estimates of $1.55 by $0.75. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the company posted $1.38 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. Equities analysts expect 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. Shareholders of record on Monday, June 19th were issued a dividend of $0.64 per share. 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. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.87%. American Tower Corporation (REIT)’s dividend payout ratio is 102.81%.

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Several brokerages have recently weighed in on AMT. BidaskClub raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Cowen and Company reissued a “buy” rating and issued a $155.00 price target on shares of American Tower Corporation (REIT) in a research note on Wednesday, July 19th. Deutsche Bank AG increased their price target on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Stifel Nicolaus reissued a “buy” rating and issued a $150.00 price target on shares of American Tower Corporation (REIT) in a research note on Thursday, July 6th. Finally, Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a research note on Thursday, May 4th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $142.67.

In other American Tower Corporation (REIT) news, Director David E. Sharbutt sold 3,653 shares of the company’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 transaction, the director now owns 10,098 shares in the company, valued at approximately $1,298,703.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven C. Marshall sold 20,548 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was 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 currently owned by corporate 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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