Baxter Bros Inc. boosted its position in American Tower Corporation (REIT) (NYSE:AMT) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,470 shares of the real estate investment trust’s stock after buying an additional 15 shares during the period. Baxter Bros Inc.’s holdings in American Tower Corporation (REIT) were worth $459,000 at the end of the most recent quarter.

A number of 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 worth $107,000 after buying an additional 4 shares during the period. 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 worth $122,000 after buying an additional 465 shares during the period. Heritage Trust Co purchased a new stake in American Tower Corporation (REIT) during the first quarter worth $122,000. 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 worth $157,000 after buying an additional 500 shares during the period. 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 worth $163,000 after buying an additional 15 shares during the period. 93.40% of the stock is currently owned by institutional investors and hedge funds.

American Tower Corporation (NYSE:AMT) opened at 136.68 on Friday. The firm 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. The stock has a market cap of $58.66 billion, a PE ratio of 54.67 and a beta of 0.71.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by $0.75. The company had revenue of $1.66 billion for 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%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS. Analysts expect that American Tower Corporation will post $3.02 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 19th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $2.56 annualized dividend 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 dividend payout ratio (DPR) is presently 102.81%.

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AMT has been the topic of a number of analyst reports. BidaskClub raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Cowen and Company reaffirmed a “buy” rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Deutsche Bank AG upped their target price 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. 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. Finally, Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a report on Thursday, May 4th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $142.67.

In other news, 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 sale, the director now owns 10,098 shares in the company, valued at $1,298,703.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction of $2,772,336.16. The disclosure for this sale can be found here. Company 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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