Nissay Asset Management Corp Japan ADV grew its holdings in shares of American Tower Corp (NYSE:AMT) by 7.9% in the second quarter, Holdings Channel reports. The institutional investor owned 28,752 shares of the real estate investment trust’s stock after purchasing an additional 2,104 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in American Tower were worth $4,145,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CIBC World Markets Inc. lifted its holdings in American Tower by 13.4% during the 2nd quarter. CIBC World Markets Inc. now owns 17,350 shares of the real estate investment trust’s stock worth $2,501,000 after buying an additional 2,055 shares during the last quarter. Gideon Capital Advisors Inc. acquired a new stake in shares of American Tower during the second quarter worth about $492,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of American Tower by 2.2% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,465,992 shares of the real estate investment trust’s stock worth $211,352,000 after purchasing an additional 32,081 shares in the last quarter. EFG Asset Management Americas Corp. increased its position in shares of American Tower by 17.4% during the second quarter. EFG Asset Management Americas Corp. now owns 23,036 shares of the real estate investment trust’s stock worth $3,321,000 after purchasing an additional 3,411 shares in the last quarter. Finally, Convergence Investment Partners LLC increased its position in shares of American Tower by 1,791.8% during the second quarter. Convergence Investment Partners LLC now owns 10,102 shares of the real estate investment trust’s stock worth $1,456,000 after purchasing an additional 9,568 shares in the last quarter. 92.20% of the stock is owned by institutional investors.

Shares of AMT stock opened at $151.17 on Friday. The stock has a market capitalization of $65.76 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.59 and a beta of 0.83. American Tower Corp has a 52-week low of $130.37 and a 52-week high of $155.28. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.66 and a current ratio of 0.66.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($1.04). The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.75 billion. American Tower had a net margin of 16.34% and a return on equity of 16.72%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 EPS. equities research analysts forecast that American Tower Corp will post 7.1 EPS for the current fiscal year.

In related news, Director David E. Sharbutt sold 1,321 shares of the business’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $150.48, for a total value of $198,784.08. Following the transaction, the director now owns 4,781 shares in the company, valued at approximately $719,444.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James D. Taiclet, Jr. sold 43,843 shares of the business’s stock in a transaction dated Tuesday, May 29th. The shares were sold at an average price of $135.53, for a total value of $5,942,041.79. Following the completion of the transaction, the chief executive officer now owns 223,227 shares in the company, valued at approximately $30,253,955.31. The disclosure for this sale can be found here. Insiders sold a total of 198,810 shares of company stock worth $28,393,839 in the last 90 days. 0.87% of the stock is currently owned by insiders.

AMT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut American Tower from an “overweight” rating to a “neutral” rating and set a $150.00 target price on the stock. in a research report on Tuesday, July 10th. Zacks Investment Research cut American Tower from a “hold” rating to a “sell” rating in a research report on Friday, July 6th. ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Morgan Stanley lifted their target price on American Tower from $154.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, SunTrust Banks reiterated a “buy” rating and set a $167.00 target price on shares of American Tower in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $161.94.

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 over 160,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.

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

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