Welch & Forbes LLC reduced its position in shares of American Tower Corporation (REIT) (NYSE:AMT) by 0.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 3,504 shares of the real estate investment trust’s stock after selling 16 shares during the period. Welch & Forbes LLC’s holdings in American Tower Corporation (REIT) were worth $463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in American Tower Corporation (REIT) by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,561,482 shares of the real estate investment trust’s stock worth $3,349,823,000 after buying an additional 1,008,946 shares in the last quarter. Wellington Management Group LLP boosted its position in American Tower Corporation (REIT) by 8.4% in the first quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock worth $2,648,146,000 after buying an additional 1,679,615 shares in the last quarter. Edgewood Management LLC boosted its position in American Tower Corporation (REIT) by 2.6% in the first quarter. Edgewood Management LLC now owns 5,925,839 shares of the real estate investment trust’s stock worth $720,226,000 after buying an additional 151,527 shares in the last quarter. American Century Companies Inc. boosted its position in American Tower Corporation (REIT) by 60.8% in the first quarter. American Century Companies Inc. now owns 3,986,977 shares of the real estate investment trust’s stock worth $484,577,000 after buying an additional 1,507,172 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in American Tower Corporation (REIT) by 8.7% in the first quarter. Geode Capital Management LLC now owns 3,789,461 shares of the real estate investment trust’s stock worth $459,850,000 after buying an additional 303,425 shares in the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Shares of American Tower Corporation (NYSE AMT) opened at 136.83 on Friday. The stock’s 50 day moving average price is $134.98 and its 200 day moving average price is $123.72. American Tower Corporation has a 12-month low of $99.72 and a 12-month high of $139.50. The company has a market capitalization of $58.72 billion, a PE ratio of 54.73 and a beta of 0.71.

American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by $0.75. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 earnings per share. On average, equities research analysts forecast that American Tower Corporation will post $3.02 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 19th were issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.87%. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, June 15th. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is currently 102.81%.

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A number of research analysts have issued reports on AMT shares. BidaskClub cut American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research report on Thursday, August 3rd. Cowen and Company reiterated a “buy” rating and issued a $155.00 target price on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Deutsche Bank AG lifted their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $150.00 target price on shares of American Tower Corporation (REIT) in a research report on Thursday, July 6th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. American Tower Corporation (REIT) currently has an average rating of “Buy” and an average target price of $142.67.

In related news, Director David E. Sharbutt sold 3,653 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $128.61, for a total transaction of $469,812.33. Following the transaction, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $1,298,703.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Steven C. Marshall sold 20,548 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.

About American Tower Corporation (REIT)

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

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