Davidson & Garrard Inc. reduced its position in American Tower Corporation (REIT) (NYSE:AMT) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 21,172 shares of the real estate investment trust’s stock after selling 50 shares during the period. Davidson & Garrard Inc.’s holdings in American Tower Corporation (REIT) were worth $2,801,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AMT. Vanguard Group Inc. raised its stake 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 valued at $3,349,823,000 after buying an additional 1,008,946 shares during the last quarter. Wellington Management Group LLP raised its stake 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 valued at $2,648,146,000 after buying an additional 1,679,615 shares during the last quarter. Edgewood Management LLC raised its stake 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 valued at $720,226,000 after buying an additional 151,527 shares during the last quarter. American Century Companies Inc. raised its stake 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 valued at $484,577,000 after buying an additional 1,507,172 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake 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 valued at $459,850,000 after buying an additional 303,425 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Shares of American Tower Corporation (AMT) traded up 0.805% during trading on Monday, hitting $145.401. 109,362 shares of the stock traded hands. The firm has a market cap of $62.40 billion, a P/E ratio of 58.160 and a beta of 0.71. The company has a 50-day moving average of $137.50 and a 200-day moving average of $126.63. American Tower Corporation has a 52 week low of $99.72 and a 52 week high of $146.09.

American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings data 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. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the firm earned $1.38 earnings per share. American Tower Corporation (REIT)’s revenue was up 15.3% on a year-over-year basis. On average, analysts forecast that American Tower Corporation will post $3.02 EPS for the current fiscal year.

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A number of equities research analysts have commented on AMT shares. Cowen and Company reissued a “buy” rating and set a $155.00 price objective on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Citigroup Inc. increased their price objective on shares of American Tower Corporation (REIT) from $142.00 to $167.00 and gave the stock a “buy” rating in a report on Monday. BidaskClub lowered shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. reissued an “outperform” rating on shares of American Tower Corporation (REIT) in a report on Monday, June 12th. Thirteen research analysts have rated the stock with a buy rating, American Tower Corporation (REIT) has a consensus rating of “Buy” and an average target price of $144.33.

In other news, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total value of $2,772,336.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Amit Sharma sold 20,747 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $139.67, for a total value of $2,897,733.49. Following the completion of the transaction, the executive vice president now owns 101,605 shares in the company, valued at $14,191,170.35. The disclosure for this sale can be found here. 0.86% of the stock is 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.

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

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