AustralianSuper Pty Ltd increased its holdings in American Tower Corp (NYSE:AMT) by 11.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,210,000 shares of the real estate investment trust’s stock after buying an additional 128,000 shares during the period. American Tower comprises about 3.3% of AustralianSuper Pty Ltd’s holdings, making the stock its 17th biggest position. AustralianSuper Pty Ltd’s holdings in American Tower were worth $175,813,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in AMT. Mount Yale Investment Advisors LLC grew its holdings in shares of American Tower by 354.4% in the second quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 560 shares in the last quarter. Kaizen Advisory LLC grew its holdings in shares of American Tower by 140.6% in the second quarter. Kaizen Advisory LLC now owns 1,008 shares of the real estate investment trust’s stock valued at $145,000 after acquiring an additional 589 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of American Tower by 75.0% in the second quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 441 shares in the last quarter. RMR Advisors LLC bought a new position in shares of American Tower in the second quarter valued at approximately $173,000. Finally, Sun Life Financial INC grew its holdings in shares of American Tower by 311.3% in the second quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 906 shares in the last quarter. 93.41% of the stock is owned by institutional investors.

Several research firms recently commented on AMT. Zacks Investment Research upgraded American Tower from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Citigroup downgraded American Tower from a “buy” rating to a “neutral” rating and upped their price objective for the company from $161.00 to $176.00 in a research note on Wednesday, October 31st. Cowen reiterated a “buy” rating and issued a $161.00 price objective on shares of American Tower in a research note on Wednesday, August 1st. Deutsche Bank upped their price objective on American Tower from $155.00 to $169.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, Royal Bank of Canada upped their price objective on American Tower to $173.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $165.40.

In other American Tower news, Director David E. Sharbutt sold 813 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $160.88, for a total transaction of $130,795.44. Following the sale, the director now owns 3,968 shares in the company, valued at $638,371.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David E. Sharbutt sold 3,590 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $157.06, for a total value of $563,845.40. Following the sale, the director now owns 8,371 shares in the company, valued at approximately $1,314,749.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 236,528 shares of company stock worth $36,954,956. Company insiders own 0.87% of the company’s stock.

American Tower stock opened at $163.98 on Monday. American Tower Corp has a 12 month low of $130.37 and a 12 month high of $164.24. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11. The company has a market capitalization of $72.23 billion, a P/E ratio of 25.70, a PEG ratio of 1.58 and a beta of 0.59.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.83 EPS for the quarter, beating the consensus estimate of $0.81 by $0.02. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.76 billion. American Tower had a return on equity of 18.55% and a net margin of 17.07%. American Tower’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, analysts predict that American Tower Corp will post 7.58 earnings per share for the current year.

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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.

Further Reading: Buyback

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

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

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