Manchester Capital Management LLC raised its position in shares of American Tower Corp (NYSE:AMT) by 5.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,890 shares of the real estate investment trust’s stock after purchasing an additional 150 shares during the quarter. Manchester Capital Management LLC’s holdings in American Tower were worth $591,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in American Tower by 2.1% during the 1st quarter. BlackRock Inc. now owns 30,336,022 shares of the real estate investment trust’s stock valued at $5,978,017,000 after purchasing an additional 610,821 shares in the last quarter. FMR LLC increased its stake in American Tower by 13.3% during the 1st quarter. FMR LLC now owns 22,818,504 shares of the real estate investment trust’s stock valued at $4,496,615,000 after purchasing an additional 2,673,794 shares in the last quarter. Akre Capital Management LLC increased its stake in American Tower by 1.7% during the 1st quarter. Akre Capital Management LLC now owns 7,186,828 shares of the real estate investment trust’s stock valued at $1,416,236,000 after purchasing an additional 119,400 shares in the last quarter. Northern Trust Corp increased its stake in American Tower by 1.9% during the 1st quarter. Northern Trust Corp now owns 6,675,953 shares of the real estate investment trust’s stock valued at $1,315,564,000 after purchasing an additional 123,697 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in American Tower by 11.1% during the 4th quarter. Geode Capital Management LLC now owns 5,244,004 shares of the real estate investment trust’s stock valued at $827,966,000 after purchasing an additional 525,601 shares in the last quarter. Institutional investors and hedge funds own 93.22% of the company’s stock.

Shares of NYSE AMT traded up $0.09 during trading on Tuesday, reaching $225.28. 48,261 shares of the company traded hands, compared to its average volume of 1,733,641. The firm has a 50 day simple moving average of $212.28 and a 200-day simple moving average of $198.10. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 4.13. The stock has a market capitalization of $98.69 billion, a PE ratio of 28.24, a P/E/G ratio of 1.81 and a beta of 0.50. American Tower Corp has a 52-week low of $140.40 and a 52-week high of $225.69.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.91). The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.74 EPS. As a group, research analysts predict that American Tower Corp will post 7.66 EPS for the current year.

In related news, EVP Olivier Puech sold 8,347 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $210.27, for a total value of $1,755,123.69. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $201.40, for a total transaction of $11,568,013.20. Following the completion of the transaction, the chief executive officer now directly owns 255,414 shares in the company, valued at approximately $51,440,379.60. The disclosure for this sale can be found here. In the last three months, insiders sold 191,020 shares of company stock worth $39,584,998. 0.75% of the stock is currently owned by insiders.

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. UBS Group downgraded shares of American Tower from a “buy” rating to a “neutral” rating and raised their price target for the company from $195.00 to $222.00 in a report on Friday, June 7th. SunTrust Banks raised their price target on shares of American Tower to $230.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley raised their price target on shares of American Tower from $185.00 to $201.00 and gave the company an “equal weight” rating in a report on Monday, May 20th. Finally, Royal Bank of Canada raised their price target on shares of American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $199.94.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 171,000 communications sites.

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

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