Investment Centers of America Inc. boosted its position in American Tower Corporation (REIT) (NYSE:AMT) by 5.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,495 shares of the real estate investment trust’s stock after buying an additional 343 shares during the period. Investment Centers of America Inc.’s holdings in American Tower were worth $887,000 at the end of the most recent quarter.

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 during the 2nd quarter valued at about $100,000. Alexandria Capital LLC boosted its stake in American Tower by 0.5% during the 2nd quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 4 shares during the last quarter. Howe & Rusling Inc. boosted its stake in American Tower by 1,608.0% during the 3rd quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 804 shares during the last quarter. Peddock Capital Advisors LLC acquired a new position in American Tower during the 2nd quarter valued at about $119,000. Finally, Legacy Advisors LLC acquired a new position in American Tower during the 3rd quarter valued at about $132,000. Institutional investors and hedge funds own 91.88% of the company’s stock.

In related news, EVP Edmund Disanto sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $136.00, for a total value of $1,360,000.00. Following the transaction, the executive vice president now owns 151,928 shares in the company, valued at $20,662,208. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $139.40, for a total value of $4,739,600.00. Following the completion of the transaction, the chairman now owns 304,707 shares in the company, valued at approximately $42,476,155.80. The disclosure for this sale can be found here. Insiders sold a total of 122,000 shares of company stock worth $17,580,160 in the last 90 days. Company insiders own 0.86% of the company’s stock.

American Tower Corporation (NYSE:AMT) opened at $146.30 on Thursday. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $155.28. The firm has a market capitalization of $63,745.15, a P/E ratio of 23.01, a PEG ratio of 1.75 and a beta of 0.74. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61.

AMT has been the subject of a number of analyst reports. Cowen reiterated a “buy” rating on shares of American Tower in a research note on Tuesday, October 24th. SunTrust Banks reiterated a “buy” rating on shares of American Tower in a research note on Wednesday, September 20th. Jefferies Group reiterated a “buy” rating and set a $144.00 price target on shares of American Tower in a research note on Tuesday, September 12th. UBS lifted their price target on American Tower from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, September 11th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $153.00 price target on shares of American Tower in a research note on Friday, September 1st. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. American Tower presently has an average rating of “Buy” and an average target price of $158.50.

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About American Tower

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 (NYSE:AMT)

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