Schwab Charles Investment Management Inc. boosted its position in American Tower Corporation (REIT) (NYSE:AMT) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 1,359,783 shares of the real estate investment trust’s stock after buying an additional 50,178 shares during the period. Schwab Charles Investment Management Inc.’s holdings in American Tower Corporation (REIT) were worth $179,927,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AMT. BLB&B Advisors LLC boosted its stake 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. Acadian Asset Management LLC boosted its stake 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. Janney Montgomery Scott LLC boosted its stake 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. Telos Capital Management Inc. boosted its stake in shares of American Tower Corporation (REIT) by 17.0% in the first quarter. Telos Capital Management Inc. now owns 13,033 shares of the real estate investment trust’s stock valued at $1,584,000 after buying an additional 1,897 shares during the last quarter. Finally, Cullinan Associates Inc. boosted its stake 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. Institutional investors own 92.36% of the company’s stock.

American Tower Corporation (AMT) opened at 139.97 on Tuesday. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $140.02. The company has a market cap of $60.07 billion, a PE ratio of 55.99 and a beta of 0.71. The stock’s 50 day moving average price is $135.38 and its 200-day moving average price is $124.50.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Thomson Reuters’ 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 firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.38 EPS. On average, analysts forecast that American Tower Corporation will post $3.02 earnings per share for the current year.

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Several brokerages have weighed in on AMT. Cowen and Company reissued a “buy” rating and set a $155.00 price objective on shares of American Tower Corporation (REIT) in a research note on Wednesday, July 19th. Citigroup Inc. cut American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price objective on the stock. in a research note on Monday, June 12th. BidaskClub cut American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research note on Thursday, August 3rd. Finally, Raymond James Financial, Inc. reissued an “outperform” rating on shares of American Tower Corporation (REIT) in a research note on Monday, June 12th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. American Tower Corporation (REIT) presently has a consensus rating of “Buy” and an average target price of $142.67.

In other news, Director David E. Sharbutt sold 3,653 shares of American Tower Corporation (REIT) stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $128.61, for a total transaction of $469,812.33. Following the sale, the director now owns 10,098 shares of the company’s stock, valued at approximately $1,298,703.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Steven C. Marshall sold 20,548 shares of American Tower Corporation (REIT) stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total transaction of $2,772,336.16. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

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

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