IFP Advisors Inc decreased its position in shares of American Tower Corporation (REIT) (NYSE:AMT) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,464 shares of the real estate investment trust’s stock after selling 334 shares during the period. IFP Advisors Inc’s holdings in American Tower Corporation (REIT) were worth $1,649,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of American Tower Corporation (REIT) by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 169,896 shares of the real estate investment trust’s stock worth $17,959,000 after buying an additional 4,377 shares during the period. Capstone Asset Management Co. increased its stake in shares of American Tower Corporation (REIT) by 0.5% in the first quarter. Capstone Asset Management Co. now owns 40,745 shares of the real estate investment trust’s stock valued at $4,952,000 after buying an additional 220 shares during the period. Grassi Investment Management increased its stake in shares of American Tower Corporation (REIT) by 5.4% in the first quarter. Grassi Investment Management now owns 54,850 shares of the real estate investment trust’s stock valued at $6,666,000 after buying an additional 2,805 shares during the period. Honkamp Krueger Financial Services Inc. increased its stake in shares of American Tower Corporation (REIT) by 1.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 1,934 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 36 shares during the period. Finally, Private Bank & Trust Co. purchased a new stake in shares of American Tower Corporation (REIT) during the first quarter valued at about $825,000. Institutional investors own 93.40% of the company’s stock.

American Tower Corporation (AMT) opened at 136.68 on Friday. The firm has a market capitalization of $58.66 billion, a P/E ratio of 54.67 and a beta of 0.71. The stock has a 50 day moving average of $135.15 and a 200-day moving average of $123.95. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $139.50.

American Tower Corporation (REIT) (NYSE:AMT) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 the consensus estimate of $1.64 billion. During the same period last year, the company posted $1.38 EPS. The business’s revenue was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 19th were issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Thursday, June 15th. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. American Tower Corporation (REIT)’s dividend payout ratio is 102.81%.

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Several brokerages have issued reports on AMT. Zacks Investment Research downgraded shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Raymond James Financial, Inc. reissued an “outperform” rating on shares of American Tower Corporation (REIT) in a research note on Monday, June 12th. Royal Bank Of Canada boosted their target price on shares of American Tower Corporation (REIT) from $134.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Citigroup Inc. downgraded shares of American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 target price on the stock. in a research note on Monday, June 12th. Finally, BidaskClub downgraded shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. American Tower Corporation (REIT) presently has a consensus rating of “Buy” and a consensus target price of $142.67.

In other news, EVP Steven C. Marshall sold 20,548 shares of the company’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 transaction of $2,772,336.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $1,298,703.78. 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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