Segment Wealth Management LLC purchased a new position in American Tower Corporation (REIT) (NYSE:AMT) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,623 shares of the real estate investment trust’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Waldron LP purchased a new position in shares of American Tower Corporation (REIT) during the 1st quarter valued at approximately $307,000. Halbert Hargrove Russell LLC purchased a new position in shares of American Tower Corporation (REIT) during the 1st quarter valued at approximately $239,000. American Assets Capital Advisers boosted its stake in shares of American Tower Corporation (REIT) by 7.8% during the 1st quarter. American Assets Capital Advisers now owns 69,050 shares of the real estate investment trust’s stock valued at $8,350,000 after buying an additional 5,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of American Tower Corporation (REIT) by 4.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 166,747 shares of the real estate investment trust’s stock valued at $20,266,000 after buying an additional 7,847 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of American Tower Corporation (REIT) by 27.3% during the 1st quarter. Swiss National Bank now owns 1,508,383 shares of the real estate investment trust’s stock valued at $183,329,000 after buying an additional 323,300 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

In related news, EVP Amit Sharma sold 20,747 shares of the business’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $139.67, for a total value of $2,897,733.49. Following the sale, the executive vice president now owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven C. Marshall sold 20,548 shares of the business’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 disclosure for this sale can be found here. In the last ninety days, insiders sold 80,295 shares of company stock worth $11,347,780. 0.86% of the stock is owned by insiders.

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Shares of American Tower Corporation (AMT) traded down 0.635% during trading on Friday, reaching $138.515. The company had a trading volume of 411,272 shares. The firm has a market capitalization of $59.45 billion, a PE ratio of 55.406 and a beta of 0.70. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $148.71. The stock has a 50 day moving average price of $142.16 and a 200 day moving average price of $131.01.

American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings results 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 analyst estimates 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 quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 EPS. On average, equities research analysts forecast that American Tower Corporation will post $3.02 EPS for the current year.

The business also recently declared 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 is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, September 28th. This represents a $2.64 annualized dividend and a yield of 1.88%. American Tower Corporation (REIT)’s payout ratio is currently 102.81%.

Several equities analysts have recently commented on AMT shares. Citigroup Inc. increased their target price on American Tower Corporation (REIT) from $142.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 28th. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 target price for the company in a research note on Thursday, July 27th. Royal Bank Of Canada reiterated a “buy” rating and set a $153.00 target price on shares of American Tower Corporation (REIT) in a research note on Friday, September 1st. Deutsche Bank AG increased their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Finally, Argus increased their target price on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Fourteen equities research analysts have rated the stock with a buy rating, American Tower Corporation (REIT) has a consensus rating of “Buy” and a consensus target price of $148.58.

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.

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

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