Alliancebernstein L.P. trimmed its holdings in shares of American Tower Corp (NYSE:AMT) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 862,037 shares of the real estate investment trust’s stock after selling 3,783 shares during the period. Alliancebernstein L.P. owned about 0.20% of American Tower worth $125,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its position in shares of American Tower by 8.9% in the 2nd quarter. BlackRock Inc. now owns 29,362,957 shares of the real estate investment trust’s stock valued at $4,233,258,000 after purchasing an additional 2,410,425 shares during the last quarter. Edgewood Management LLC raised its position in shares of American Tower by 2.3% in the 2nd quarter. Edgewood Management LLC now owns 6,827,640 shares of the real estate investment trust’s stock valued at $984,341,000 after purchasing an additional 154,127 shares during the last quarter. Northern Trust Corp raised its position in shares of American Tower by 0.7% in the 2nd quarter. Northern Trust Corp now owns 6,545,080 shares of the real estate investment trust’s stock valued at $943,605,000 after purchasing an additional 44,364 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of American Tower by 13.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,032,192 shares of the real estate investment trust’s stock valued at $869,663,000 after purchasing an additional 713,894 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of American Tower by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,414,223 shares of the real estate investment trust’s stock valued at $636,400,000 after purchasing an additional 312,126 shares during the last quarter. Institutional investors own 92.94% of the company’s stock.

In other news, insider Steven C. Marshall sold 163,166 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $156.86, for a total transaction of $25,594,218.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Edmund Disanto sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $146.78, for a total value of $1,908,140.00. Following the sale, the executive vice president now owns 160,021 shares of the company’s stock, valued at approximately $23,487,882.38. The disclosure for this sale can be found here. Insiders have sold 236,528 shares of company stock valued at $36,954,956 in the last 90 days. Company insiders own 0.87% of the company’s stock.

AMT has been the subject of several research analyst reports. Bank of America set a $172.00 price objective on shares of American Tower and gave the company a “buy” rating in a research report on Wednesday, October 31st. ValuEngine raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Argus increased their price objective on shares of American Tower from $154.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, August 20th. Cowen reaffirmed a “buy” rating and issued a $161.00 price objective on shares of American Tower in a research report on Wednesday, August 1st. Finally, Deutsche Bank increased their price objective on shares of American Tower from $155.00 to $169.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $165.40.

American Tower stock opened at $160.64 on Wednesday. American Tower Corp has a 12 month low of $130.37 and a 12 month high of $167.09. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $72.23 billion, a PE ratio of 25.18, a P/E/G ratio of 1.58 and a beta of 0.59.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Tower Corp will post 7.58 EPS for the current fiscal year.

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American Tower Company 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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