Managed Account Services Inc. maintained its position in American Tower Corporation (REIT) (NYSE:AMT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,614 shares of the real estate investment trust’s stock at the end of the second quarter. Managed Account Services Inc.’s holdings in American Tower Corporation (REIT) were worth $346,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. 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. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Shares of American Tower Corporation (NYSE:AMT) opened at 136.68 on Friday. The stock has a market cap of $58.66 billion, a price-to-earnings ratio of 54.67 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 firm has a 50-day moving average price of $135.15 and a 200-day moving average price of $123.95.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by $0.75. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.38 EPS. Equities analysts forecast that American Tower Corporation will post $3.02 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, June 19th were given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 1.87%. 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. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is presently 102.81%.

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A number of analysts recently issued reports on the company. Cowen and Company restated a “buy” rating and issued a $155.00 price target on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Citigroup Inc. downgraded 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. BidaskClub downgraded American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. restated an “outperform” rating on shares of American Tower Corporation (REIT) in a research report on Monday, June 12th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $142.67.

In other American Tower Corporation (REIT) news, Director David E. Sharbutt sold 3,653 shares of the 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 approximately $1,298,703.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven C. Marshall sold 20,548 shares of the 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 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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