Dearborn Partners LLC purchased a new position in shares of American Tower Corp (NYSE:AMT) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 113,474 shares of the real estate investment trust’s stock, valued at approximately $15,510,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its position in American Tower by 1,886.3% in the 2nd quarter. Janus Henderson Group PLC now owns 7,468,416 shares of the real estate investment trust’s stock valued at $988,214,000 after buying an additional 7,092,413 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in American Tower by 823.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,606,119 shares of the real estate investment trust’s stock valued at $212,525,000 after buying an additional 1,432,155 shares during the last quarter. Vanguard Group Inc. boosted its position in American Tower by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 28,442,502 shares of the real estate investment trust’s stock valued at $3,763,512,000 after buying an additional 881,020 shares during the last quarter. Prudential Financial Inc. boosted its position in American Tower by 56.7% in the 2nd quarter. Prudential Financial Inc. now owns 1,963,407 shares of the real estate investment trust’s stock valued at $259,798,000 after buying an additional 710,130 shares during the last quarter. Finally, Winslow Capital Management LLC boosted its position in American Tower by 36.5% in the 2nd quarter. Winslow Capital Management LLC now owns 2,539,716 shares of the real estate investment trust’s stock valued at $336,055,000 after buying an additional 679,096 shares during the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

AMT has been the topic of a number of recent research reports. Jefferies Group reiterated a “buy” rating and issued a $144.00 price objective on shares of American Tower in a research report on Tuesday, September 12th. Macquarie increased their price objective on American Tower from $162.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, November 1st. BidaskClub upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Zacks Investment Research downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, KeyCorp set a $156.00 price target on American Tower and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $158.50.

In related news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $151.20, for a total transaction of $5,140,800.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Edmund Disanto sold 10,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 151,928 shares in the company, valued at approximately $20,662,208. The disclosure for this sale can be found here. In the last three months, insiders sold 122,000 shares of company stock worth $17,580,160. 0.86% of the stock is currently owned by company insiders.

American Tower Corp (AMT) opened at $143.61 on Monday. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $61,588.01, a price-to-earnings ratio of 22.23, a PEG ratio of 1.69 and a beta of 0.73. American Tower Corp has a 12 month low of $100.79 and a 12 month high of $155.28.

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American Tower 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 (NYSE:AMT)

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