Wagner Bowman Management Corp lowered its stake in shares of American Tower Corp. (NYSE:AMT) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,416 shares of the real estate investment trust’s stock after selling 56 shares during the period. Wagner Bowman Management Corp’s holdings in American Tower Corp. were worth $956,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. New York State Teachers Retirement System boosted its stake in American Tower Corp. by 0.5% in the second quarter. New York State Teachers Retirement System now owns 752,616 shares of the real estate investment trust’s stock valued at $85,505,000 after buying an additional 3,963 shares during the last quarter. Legal & General Group Plc boosted its stake in American Tower Corp. by 1.4% in the first quarter. Legal & General Group Plc now owns 2,277,699 shares of the real estate investment trust’s stock valued at $233,170,000 after buying an additional 31,926 shares during the last quarter. Renaissance Technologies LLC boosted its stake in American Tower Corp. by 12.5% in the first quarter. Renaissance Technologies LLC now owns 512,339 shares of the real estate investment trust’s stock valued at $52,448,000 after buying an additional 56,900 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in American Tower Corp. by 36.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 860,813 shares of the real estate investment trust’s stock valued at $88,121,000 after buying an additional 228,211 shares during the last quarter. Finally, Sarasin & Partners LLP bought a new stake in American Tower Corp. during the second quarter valued at about $2,663,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

American Tower Corp. (NYSE:AMT) traded down 0.50% during mid-day trading on Tuesday, reaching $108.65. 1,396,803 shares of the company were exchanged. The stock has a market capitalization of $46.23 billion, a price-to-earnings ratio of 67.44 and a beta of 0.57. American Tower Corp. has a 1-year low of $83.07 and a 1-year high of $118.26. The stock’s 50-day moving average price is $113.79 and its 200-day moving average price is $108.78.

American Tower Corp. (NYSE:AMT) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.36 by $0.03. American Tower Corp. had a net margin of 15.21% and a return on equity of 11.73%. The firm earned $1.44 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. On average, equities research analysts anticipate that American Tower Corp. will post $5.70 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This is an increase from American Tower Corp.’s previous quarterly dividend of $0.53. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.02%. American Tower Corp.’s dividend payout ratio (DPR) is 131.68%.

AMT has been the topic of several recent analyst reports. Deutsche Bank AG reiterated a “buy” rating and set a $117.00 price objective on shares of American Tower Corp. in a research report on Tuesday, May 31st. Citigroup Inc. lifted their price objective on shares of American Tower Corp. from $108.00 to $121.00 and gave the company a “buy” rating in a research report on Thursday, June 16th. BTIG Research lifted their price objective on shares of American Tower Corp. to $140.00 in a research report on Tuesday, July 19th. They noted that the move was a valuation call. Jefferies Group lifted their price objective on shares of American Tower Corp. from $120.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Finally, Argus lifted their price objective on shares of American Tower Corp. from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $120.59.

In other American Tower Corp. news, EVP Steven C. Marshall sold 100,000 shares of the firm’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $113.33, for a total value of $11,333,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edmund Disanto sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $113.50, for a total value of $2,270,000.00. Following the completion of the sale, the executive vice president now directly owns 154,962 shares of the company’s stock, valued at $17,588,187. The disclosure for this sale can be found here. 0.95% of the stock is owned by company insiders.

American Tower Corp. Company Profile

American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.

5 Day Chart for NYSE:AMT

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