HighTower Advisors LLC boosted its holdings in shares of American Tower Corporation (REIT) (NYSE:AMT) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,034 shares of the real estate investment trust’s stock after acquiring an additional 4,674 shares during the period. HighTower Advisors LLC’s holdings in American Tower Corporation (REIT) were worth $12,182,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Shine Investment Advisory Services Inc. purchased a new stake in American Tower Corporation (REIT) during the 2nd quarter valued at about $100,000. Alexandria Capital LLC grew its stake in American Tower Corporation (REIT) by 0.5% during the 2nd quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 4 shares in the last quarter. Peddock Capital Advisors LLC purchased a new stake in American Tower Corporation (REIT) during the 2nd quarter valued at about $119,000. Heritage Trust Co purchased a new stake in American Tower Corporation (REIT) during the 1st quarter valued at about $122,000. Finally, Glassman Wealth Services grew its stake in American Tower Corporation (REIT) by 28.9% during the 2nd quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 231 shares in the last quarter. 92.06% of the stock is owned by institutional investors.

American Tower Corporation (NYSE:AMT) traded up 0.43% during midday trading on Friday, reaching $136.68. 1,705,810 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $142.16 and its 200 day moving average is $131.01. American Tower Corporation has a 52 week low of $99.72 and a 52 week high of $148.71. The firm has a market capitalization of $58.66 billion, a P/E ratio of 54.67 and a beta of 0.70.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.66 per share. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, September 28th. American Tower Corporation (REIT)’s payout ratio is currently 106.02%.

Several analysts recently issued reports on AMT shares. Citigroup Inc. cut shares of American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price objective for the company. in a research note on Monday, June 12th. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of American Tower Corporation (REIT) in a research note on Monday, June 12th. BidaskClub cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research cut shares of American Tower Corporation (REIT) from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $150.00 price objective on shares of American Tower Corporation (REIT) in a research note on Thursday, July 6th. Fourteen investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $148.58.

In other news, EVP Amit Sharma sold 20,747 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the transaction, the executive vice president now directly owns 101,605 shares of the company’s stock, valued at $14,191,170.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $145.89, for a total transaction of $4,960,260.00. Following the transaction, the chairman now directly owns 304,707 shares in the company, valued at $44,453,704.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,747 shares of company stock valued at $9,954,943. 0.86% of the stock is owned by insiders.

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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.

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

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