Advisor Partners LLC boosted its stake in American Tower Corporation (REIT) (NYSE:AMT) by 17.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,506 shares of the real estate investment trust’s stock after buying an additional 989 shares during the period. Advisor Partners LLC’s holdings in American Tower Corporation (REIT) were worth $861,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Alexandria Capital LLC raised its stake 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 during the last quarter. Heritage Trust Co purchased a new stake in American Tower Corporation (REIT) during the first quarter valued at $122,000. Webster Bank N. A. raised its stake 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 during the last quarter. Farmers & Merchants Investments Inc. raised its stake 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 during the last quarter. Finally, Cornerstone Advisors Inc. raised its stake 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 during the last quarter. 93.40% of the stock is owned by institutional investors.

Shares of American Tower Corporation (NYSE:AMT) opened at 136.68 on Friday. The company has a 50 day moving average of $135.15 and a 200-day moving average of $123.95. The firm 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 one year low of $99.72 and a one year high of $139.50.

American Tower Corporation (REIT) (NYSE:AMT) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by $0.75. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. 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 earned $1.38 EPS. On average, analysts expect 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. Investors of record on Monday, June 19th were paid a $0.64 dividend. 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 annualized dividend and a yield of 1.87%. American Tower Corporation (REIT)’s dividend payout ratio is presently 102.81%.

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Several research firms have recently weighed in on AMT. Argus raised their price objective on shares of American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a report on Thursday, August 3rd. BidaskClub raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Deutsche Bank AG raised their price objective on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $150.00 price objective on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. American Tower Corporation (REIT) has a consensus rating of “Buy” and a consensus target price of $142.67.

In related news, EVP Steven C. Marshall sold 20,548 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David E. Sharbutt sold 3,653 shares of the 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 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. 0.86% of the stock is 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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