Markel Corp boosted its position in American Tower Corporation (REIT) (NYSE:AMT) by 20.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,500 shares of the real estate investment trust’s stock after buying an additional 6,000 shares during the period. Markel Corp’s holdings in American Tower Corporation (REIT) were worth $4,697,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Alexandria Capital LLC increased its position in American Tower Corporation (REIT) by 0.5% in the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 4 shares in the last quarter. Cornerstone Advisors Inc. increased its position in American Tower Corporation (REIT) by 1.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 15 shares in the last quarter. Guardian Life Insurance Co. of America increased its position in American Tower Corporation (REIT) by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 1,650 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 19 shares in the last quarter. Homrich & Berg increased its position in American Tower Corporation (REIT) by 0.3% in the first quarter. Homrich & Berg now owns 7,046 shares of the real estate investment trust’s stock worth $856,000 after buying an additional 24 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its position in American Tower Corporation (REIT) by 1.5% in the second quarter. CHICAGO TRUST Co NA now owns 2,010 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 30 shares in the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

Shares of American Tower Corporation (NYSE AMT) opened at 136.83 on Friday. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $139.50. The stock has a market capitalization of $58.72 billion, a PE ratio of 54.73 and a beta of 0.71. The firm has a 50-day moving average of $134.98 and a 200 day moving average of $123.72.

American Tower Corporation (REIT) (NYSE:AMT) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by $0.75. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. Analysts predict that American Tower Corporation will post $3.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 19th were given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 1.87%. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Thursday, June 15th. American Tower Corporation (REIT)’s payout ratio is 102.81%.

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AMT has been the subject of a number of research reports. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 target price for the company in a research report on Thursday, July 27th. Deutsche Bank AG increased their target price on shares of 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. Royal Bank Of Canada increased their target price on shares of American Tower Corporation (REIT) from $134.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Argus increased their target price on shares of American Tower Corporation (REIT) from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $150.00 target price on shares of American Tower Corporation (REIT) in a research report on Thursday, July 6th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $142.67.

In related news, Director David E. Sharbutt sold 3,653 shares of the business’s 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 completion of the sale, the director now directly owns 10,098 shares in the company, valued at $1,298,703.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven C. Marshall sold 20,548 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was 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. 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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