First Citizens Bank & Trust Co. cut its position in shares of American Tower Corporation (REIT) (NYSE:AMT) by 4.0% during the third quarter, Holdings Channel reports. The institutional investor owned 4,127 shares of the real estate investment trust’s stock after selling 174 shares during the period. First Citizens Bank & Trust Co.’s holdings in American Tower Corporation (REIT) were worth $468,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in AMT. Standard Life Investments LTD boosted its stake in shares of American Tower Corporation (REIT) by 5.6% in the second quarter. Standard Life Investments LTD now owns 4,467,595 shares of the real estate investment trust’s stock worth $507,519,000 after buying an additional 238,684 shares during the last quarter. Cohen & Steers Inc. boosted its stake in shares of American Tower Corporation (REIT) by 50.7% in the second quarter. Cohen & Steers Inc. now owns 3,803,923 shares of the real estate investment trust’s stock worth $77,904,000 after buying an additional 1,280,386 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of American Tower Corporation (REIT) by 7.8% in the second quarter. American Century Companies Inc. now owns 2,403,790 shares of the real estate investment trust’s stock worth $273,095,000 after buying an additional 173,514 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of American Tower Corporation (REIT) by 98.7% in the second quarter. Capital Research Global Investors now owns 1,517,627 shares of the real estate investment trust’s stock worth $172,418,000 after buying an additional 753,936 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of American Tower Corporation (REIT) by 5.7% in the second quarter. Alliancebernstein L.P. now owns 1,486,084 shares of the real estate investment trust’s stock worth $168,834,000 after buying an additional 79,548 shares during the last quarter. Institutional investors and hedge funds own 92.72% of the company’s stock.

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

American Tower Corporation (NYSE:AMT) traded down 0.72% during mid-day trading on Friday, hitting $103.45. 2,058,945 shares of the stock were exchanged. The company has a 50 day moving average price of $104.86 and a 200 day moving average price of $111.10. American Tower Corporation has a 52 week low of $83.07 and a 52 week high of $118.26. The stock has a market cap of $44.04 billion, a price-to-earnings ratio of 51.78 and a beta of 0.63.

American Tower Corporation (REIT) (NYSE:AMT) last released its earnings results on Thursday, October 27th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.03. American Tower Corporation (REIT) had a return on equity of 14.05% and a net margin of 17.37%. The company had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the business posted $1.31 EPS. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. Analysts expect that American Tower Corporation will post $2.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Wednesday, December 28th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.24%. The ex-dividend date was Friday, December 23rd. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.55. American Tower Corporation (REIT)’s payout ratio is 117.17%.

ILLEGAL ACTIVITY WARNING: This piece was originally reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another domain, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this piece can be viewed at http://www.watchlistnews.com/american-tower-corporation-reit-amt-shares-sold-by-first-citizens-bank-trust-co/1061629.html.

A number of equities research analysts recently commented on the stock. Deutsche Bank AG reissued a “buy” rating and issued a $135.00 price objective on shares of American Tower Corporation (REIT) in a research note on Friday, November 4th. Zacks Investment Research cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th. Macquarie initiated coverage on shares of American Tower Corporation (REIT) in a research note on Tuesday, December 6th. They set an “outperform” rating and a $125.00 price target on the stock. Guggenheim initiated coverage on shares of American Tower Corporation (REIT) in a research note on Thursday, December 15th. They set a “neutral” rating on the stock. Finally, Stifel Nicolaus raised their price target on shares of American Tower Corporation (REIT) from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $123.60.

In other American Tower Corporation (REIT) news, Director Samme L. Thompson sold 2,202 shares of American Tower Corporation (REIT) stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $116.13, for a total transaction of $255,718.26. Following the transaction, the director now owns 16,063 shares of the company’s stock, valued at approximately $1,865,396.19. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 40,000 shares of American Tower Corporation (REIT) stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $104.13, for a total value of $4,165,200.00. The disclosure for this sale can be found here. Company insiders own 0.95% of the company’s stock.

About American Tower Corporation (REIT)

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

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 Corporation (REIT) (NYSE:AMT).

Receive News & Ratings for American Tower Corporation (REIT) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower Corporation (REIT) and related companies with Analyst Ratings Network's FREE daily email newsletter.