Lakeview Capital Partners LLC raised its stake in American Tower Corporation (REIT) (NYSE:AMT) by 26.8% during the second quarter, Holdings Channel reports. The firm owned 2,889 shares of the real estate investment trust’s stock after buying an additional 611 shares during the period. Lakeview Capital Partners LLC’s holdings in American Tower Corporation (REIT) were worth $382,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted 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 valued at $17,959,000 after buying an additional 4,377 shares during the period. Honkamp Krueger Financial Services Inc. boosted 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. Private Bank & Trust Co. acquired a new stake in shares of American Tower Corporation (REIT) during the first quarter valued at approximately $825,000. BKD Wealth Advisors LLC boosted its stake in shares of American Tower Corporation (REIT) by 14.0% in the first quarter. BKD Wealth Advisors LLC now owns 2,899 shares of the real estate investment trust’s stock valued at $352,000 after buying an additional 355 shares during the period. Finally, Atria Investments LLC boosted its stake in shares of American Tower Corporation (REIT) by 13.8% in the first quarter. Atria Investments LLC now owns 4,792 shares of the real estate investment trust’s stock valued at $582,000 after buying an additional 580 shares during the period. 93.40% of the stock is owned by institutional investors and hedge funds.

Shares of American Tower Corporation (NYSE AMT) opened at 136.68 on Friday. The stock has a market capitalization of $58.66 billion, a price-to-earnings ratio of 54.67 and a beta of 0.71. The company’s 50 day moving average price is $135.15 and its 200 day moving average price is $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 announced its 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. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. American Tower Corporation (REIT)’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share. On average, analysts expect that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

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

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Several analysts have recently commented on AMT shares. Royal Bank Of Canada raised their target price on American Tower Corporation (REIT) from $134.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research report on Thursday, May 4th. Citigroup Inc. cut American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 target price for the company. in a research report on Monday, June 12th. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of American Tower Corporation (REIT) in a research report on Monday, June 12th. Finally, BidaskClub cut American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $142.67.

In related news, EVP Steven C. Marshall sold 20,548 shares of the company’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David E. Sharbutt sold 3,653 shares of the company’s stock in a transaction 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 transaction, 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. 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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