Macquarie Group Ltd. raised its holdings in shares of American Tower Corp (NYSE:AMT) by 8.8% in the 2nd quarter, Holdings Channel reports. The firm owned 508,638 shares of the real estate investment trust’s stock after purchasing an additional 41,266 shares during the quarter. Macquarie Group Ltd.’s holdings in American Tower were worth $73,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Wallington Asset Management LLC boosted its holdings in shares of American Tower by 0.4% during the second quarter. Wallington Asset Management LLC now owns 82,040 shares of the real estate investment trust’s stock valued at $11,828,000 after acquiring an additional 340 shares during the period. Peregrine Capital Management LLC lifted its holdings in American Tower by 0.3% in the second quarter. Peregrine Capital Management LLC now owns 110,820 shares of the real estate investment trust’s stock worth $15,977,000 after purchasing an additional 351 shares during the period. Warren Averett Asset Management LLC lifted its holdings in American Tower by 9.0% in the second quarter. Warren Averett Asset Management LLC now owns 4,498 shares of the real estate investment trust’s stock worth $648,000 after purchasing an additional 370 shares during the period. Creative Planning lifted its holdings in American Tower by 1.2% in the second quarter. Creative Planning now owns 30,790 shares of the real estate investment trust’s stock worth $4,439,000 after purchasing an additional 375 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in American Tower by 0.4% in the second quarter. Mutual of America Capital Management LLC now owns 91,994 shares of the real estate investment trust’s stock worth $13,263,000 after purchasing an additional 390 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Several research firms recently weighed in on AMT. Argus upped their price objective on shares of American Tower from $154.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, August 20th. Morgan Stanley upped their price objective on shares of American Tower from $154.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, August 16th. Guggenheim reiterated a “hold” rating and issued a $160.00 price target on shares of American Tower in a research report on Tuesday, August 7th. Oppenheimer boosted their price target on shares of American Tower from $167.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 1st. Finally, Cowen reiterated a “buy” rating and issued a $161.00 price target on shares of American Tower in a research report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $162.14.

In other news, Chairman James D. Taiclet, Jr. sold 43,808 shares of the company’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $150.65, for a total value of $6,599,675.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman James D. Taiclet, Jr. sold 43,843 shares of the company’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $142.66, for a total value of $6,254,642.38. Following the completion of the transaction, the chairman now owns 223,227 shares in the company, valued at approximately $31,845,563.82. The disclosure for this sale can be found here. Insiders sold a total of 124,124 shares of company stock worth $18,269,268 in the last quarter. 0.87% of the stock is owned by corporate insiders.

Shares of American Tower stock opened at $147.00 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.99. The stock has a market capitalization of $64.60 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.56 and a beta of 0.82. American Tower Corp has a 52 week low of $130.37 and a 52 week high of $155.28.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($1.04). The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.75 billion. American Tower had a return on equity of 16.72% and a net margin of 16.34%. American Tower’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 EPS. analysts predict that American Tower Corp will post 7.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th will be issued a $0.79 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.15%. American Tower’s dividend payout ratio is currently 48.28%.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 170,000 communications sites.

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

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