Buckingham Capital Management Inc. maintained its position in American Tower Corporation (REIT) (NYSE:AMT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,700 shares of the real estate investment trust’s stock at the end of the second quarter. Buckingham Capital Management Inc.’s holdings in American Tower Corporation (REIT) were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AMT. Shine Investment Advisory Services Inc. acquired a new position in American Tower Corporation (REIT) during the 2nd quarter worth approximately $100,000. Alexandria Capital LLC increased its position in American Tower Corporation (REIT) by 0.5% during the 2nd quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 4 shares in the last quarter. Peddock Capital Advisors LLC acquired a new position in American Tower Corporation (REIT) during the 2nd quarter worth approximately $119,000. Heritage Trust Co acquired a new position in American Tower Corporation (REIT) during the 1st quarter worth approximately $122,000. Finally, Glassman Wealth Services increased its position in American Tower Corporation (REIT) by 28.9% during the 2nd quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds own 92.09% of the company’s stock.

In related news, EVP Amit Sharma sold 20,747 shares of American Tower Corporation (REIT) stock in a transaction on Friday, August 18th. The shares were sold at an average price of $139.67, for a total value of $2,897,733.49. Following the transaction, the executive vice president now directly owns 101,605 shares of the company’s stock, valued at $14,191,170.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven C. Marshall sold 20,548 shares of American Tower Corporation (REIT) stock in a transaction on Tuesday, June 27th. The stock was 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. Over the last ninety days, insiders sold 46,295 shares of company stock worth $6,387,520. 0.86% of the stock is owned by insiders.

A number of research firms recently issued reports on AMT. Cowen and Company reiterated a “buy” rating and set a $155.00 price objective on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and set a $144.00 price objective on shares of American Tower Corporation (REIT) in a research report on Tuesday. BidaskClub cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Citigroup Inc. cut shares of 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. Finally, Zacks Investment Research upgraded shares of 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. Thirteen research analysts have rated the stock with a buy rating, American Tower Corporation (REIT) presently has an average rating of “Buy” and a consensus target price of $148.58.

American Tower Corporation (NYSE:AMT) traded down 0.42% during midday trading on Wednesday, hitting $144.22. 414,594 shares of the stock were exchanged. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $148.71. The company’s 50 day moving average is $140.99 and its 200-day moving average is $129.72. The stock has a market cap of $61.90 billion, a PE ratio of 57.69 and a beta of 0.70.

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

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.82%. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, September 28th. American Tower Corporation (REIT)’s payout ratio is presently 102.81%.

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American Tower Corporation (REIT) 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.

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

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