Candriam Luxembourg S.C.A. increased its stake in shares of American Tower Corporation (REIT) (NYSE:AMT) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 42,202 shares of the real estate investment trust’s stock after buying an additional 687 shares during the period. Candriam Luxembourg S.C.A.’s holdings in American Tower Corporation (REIT) were worth $5,584,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of American Tower Corporation (REIT) by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 169,896 shares of the real estate investment trust’s stock valued at $17,959,000 after buying an additional 4,377 shares during the last quarter. Pennsylvania Trust Co boosted its position in shares of American Tower Corporation (REIT) by 335.8% in the first quarter. Pennsylvania Trust Co now owns 70,453 shares of the real estate investment trust’s stock valued at $8,563,000 after buying an additional 54,288 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of American Tower Corporation (REIT) by 0.5% in the first quarter. Capstone Asset Management Co. now owns 40,745 shares of the real estate investment trust’s stock valued at $4,952,000 after buying an additional 220 shares during the last quarter. Grassi Investment Management boosted its position in shares of American Tower Corporation (REIT) by 5.4% in the first quarter. Grassi Investment Management now owns 54,850 shares of the real estate investment trust’s stock valued at $6,666,000 after buying an additional 2,805 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. boosted its position in shares of American Tower Corporation (REIT) by 1.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 1,934 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 36 shares during the last quarter. 93.40% of the stock is currently owned by institutional investors.

American Tower Corporation (NYSE:AMT) opened at 136.83 on Friday. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $139.50. The firm has a 50-day moving average price of $134.98 and a 200 day moving average price of $123.72. The stock has a market cap of $58.72 billion, a PE ratio of 54.73 and a beta of 0.71.

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

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

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AMT has been the topic of several analyst reports. Royal Bank Of Canada lifted their target price on 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. Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a research report on Thursday, May 4th. Citigroup Inc. cut American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 target price on the stock. in a research report on Monday, June 12th. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of American Tower Corporation (REIT) in a research report on Monday, June 12th. Finally, BidaskClub cut American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $142.67.

In other news, EVP Steven C. Marshall sold 20,548 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total value of $2,772,336.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David E. Sharbutt sold 3,653 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $128.61, for a total value of $469,812.33. Following the completion of the transaction, the director now owns 10,098 shares in the company, valued at $1,298,703.78. 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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