Retirement Systems of Alabama cut its position in shares of American Tower Corporation (REIT) (NYSE:AMT) by 5.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 450,867 shares of the real estate investment trust’s stock after selling 25,930 shares during the period. Retirement Systems of Alabama’s holdings in American Tower Corporation (REIT) were worth $59,659,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AMT. Vanguard Group Inc. increased its position 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 worth $3,349,823,000 after buying an additional 1,008,946 shares in the last quarter. Wellington Management Group LLP increased its position 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 worth $2,648,146,000 after buying an additional 1,679,615 shares in the last quarter. Edgewood Management LLC increased its position in American Tower Corporation (REIT) by 2.6% in the first quarter. Edgewood Management LLC now owns 5,925,839 shares of the real estate investment trust’s stock worth $720,226,000 after buying an additional 151,527 shares in the last quarter. American Century Companies Inc. increased its position 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 worth $484,577,000 after buying an additional 1,507,172 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in American Tower Corporation (REIT) by 8.7% in the first quarter. Geode Capital Management LLC now owns 3,789,461 shares of the real estate investment trust’s stock worth $459,850,000 after buying an additional 303,425 shares in the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

Shares of American Tower Corporation (AMT) opened at 136.68 on Friday. The firm has a market capitalization of $58.66 billion, a PE ratio of 54.67 and a beta of 0.71. The company 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 52-week low of $99.72 and a 52-week 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 analysts’ consensus estimates of $1.55 by $0.75. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the firm posted $1.38 EPS. The business’s revenue was up 15.3% on a year-over-year basis. Analysts expect that American Tower Corporation will post $3.02 EPS for the current fiscal year.

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

ILLEGAL ACTIVITY WARNING: “Retirement Systems of Alabama Has $59.66 Million Position in American Tower Corporation (REIT) (NYSE:AMT)” was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The original version of this piece of content can be read at https://www.dailypolitical.com/2017/08/12/retirement-systems-of-alabama-has-59-66-million-position-in-american-tower-corporation-reit-nyseamt.html.

AMT has been the topic of a number of research analyst reports. Zacks Investment Research raised American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 target price on the stock in a report on Thursday, July 27th. Deutsche Bank AG increased their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Royal Bank Of Canada increased their target price 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. Argus increased their target price on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $150.00 target price on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently 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 American Tower Corporation (REIT) 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David E. Sharbutt sold 3,653 shares of American Tower Corporation (REIT) stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $128.61, for a total transaction of $469,812.33. Following the completion of the transaction, the director now 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. Insiders own 0.86% of the company’s stock.

About American Tower Corporation (REIT)

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.

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (REIT) (NYSE:AMT).

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

Receive News & Ratings for American Tower Corporation (REIT) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower Corporation (REIT) and related companies with MarketBeat.com's FREE daily email newsletter.