American Tower Corporation (REIT) (AMT) Shares Bought by Atlantic Trust Group LLC

Atlantic Trust Group LLC increased its stake in shares of American Tower Corporation (REIT) (NYSE:AMT) by 4.1% during the first quarter, Holdings Channel reports. The fund owned 982,739 shares of the real estate investment trust’s stock after buying an additional 38,930 shares during the period. Atlantic Trust Group LLC’s holdings in American Tower Corporation (REIT) were worth $119,442,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMT. Capital Analysts LLC raised its position in shares of American Tower Corporation (REIT) by 14.7% in the fourth quarter. Capital Analysts LLC now owns 25,867 shares of the real estate investment trust’s stock valued at $2,734,000 after buying an additional 3,314 shares during the last quarter. BLB&B Advisors LLC raised its position in shares of American Tower Corporation (REIT) by 27.5% in the first quarter. BLB&B Advisors LLC now owns 5,655 shares of the real estate investment trust’s stock valued at $687,000 after buying an additional 1,220 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of American Tower Corporation (REIT) by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 43,143 shares of the real estate investment trust’s stock valued at $5,244,000 after buying an additional 7,152 shares during the last quarter. Cullinan Associates Inc. raised its position in shares of American Tower Corporation (REIT) by 8.1% in the first quarter. Cullinan Associates Inc. now owns 38,360 shares of the real estate investment trust’s stock valued at $4,662,000 after buying an additional 2,880 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of American Tower Corporation (REIT) by 296.4% in the first quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock valued at $579,000 after buying an additional 3,560 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

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

American Tower Corporation (AMT) opened at 131.95 on Friday. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $137.12. The company has a market capitalization of $56.08 billion, a price-to-earnings ratio of 63.71 and a beta of 0.73. The company’s 50-day moving average is $129.42 and its 200-day moving average is $115.75.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by $0.84. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.58 billion. American Tower Corporation (REIT) had a net margin of 16.32% and a return on equity of 14.26%. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the company posted $0.58 EPS. On average, analysts expect that American Tower Corporation will post $2.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Monday, June 19th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, June 15th. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. American Tower Corporation (REIT)’s dividend payout ratio is 124.27%.

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AMT has been the topic of several research analyst reports. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “sell” rating to a “hold” rating in a research report on Wednesday, March 1st. Royal Bank Of Canada increased their price objective on shares of American Tower Corporation (REIT) from $134.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Guggenheim raised shares of American Tower Corporation (REIT) from a “neutral” rating to a “buy” rating and increased their price objective for the company from $117.00 to $135.00 in a research report on Monday, April 10th. Jefferies Group LLC reissued a “buy” rating and issued a $136.00 price objective on shares of American Tower Corporation (REIT) in a research report on Monday, April 3rd. Finally, Pacific Crest increased their price objective on shares of American Tower Corporation (REIT) to $132.00 in a research report on Wednesday, March 22nd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. American Tower Corporation (REIT) currently has a consensus rating of “Buy” and a consensus price target of $135.83.

In other news, EVP Amit Sharma sold 61,096 shares of the stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $126.57, for a total transaction of $7,732,920.72. Following the completion of the sale, the executive vice president now owns 177,556 shares of the company’s stock, valued at $22,473,262.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP William H. Hess sold 90,489 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $120.96, for a total value of $10,945,549.44. Following the sale, the executive vice president now directly owns 126,987 shares of the company’s stock, valued at approximately $15,360,347.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 233,291 shares of company stock valued at $28,816,053. Insiders own 0.95% of the company’s stock.

American Tower Corporation (REIT) Company 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.

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