Tuttle Tactical Management LLC bought a new position in American Tower Corporation (REIT) (NYSE:AMT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,228 shares of the real estate investment trust’s stock, valued at approximately $824,000. American Tower Corporation (REIT) comprises 0.6% of Tuttle Tactical Management LLC’s investment portfolio, making the stock its 29th largest position.

Several other institutional investors have also made changes to their positions in the company. Alexandria Capital LLC raised its position in shares of 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 during the period. Cornerstone Advisors Inc. raised 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 during the period. Baxter Bros Inc. raised its position in American Tower Corporation (REIT) by 0.4% in the second quarter. Baxter Bros Inc. now owns 3,470 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 15 shares during the period. Guardian Life Insurance Co. of America raised 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 during the period. Finally, HL Financial Services LLC raised its position in American Tower Corporation (REIT) by 0.5% in the second quarter. HL Financial Services LLC now owns 3,675 shares of the real estate investment trust’s stock worth $486,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Shares of American Tower Corporation (NYSE AMT) traded up 0.26% on Thursday, reaching $147.90. The company had a trading volume of 392,078 shares. The firm has a market cap of $63.48 billion, a P/E ratio of 59.16 and a beta of 0.71. The company has a 50-day moving average price of $137.50 and a 200-day moving average price of $126.63. American Tower Corporation has a one year low of $99.72 and a one year high of $148.00.

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 Thomson Reuters’ consensus estimate of $1.55 by $0.75. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 earnings per share. On average, analysts expect that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

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AMT has been the subject of a number of recent analyst reports. Cowen and Company reissued a “buy” rating and issued a $155.00 target price on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Citigroup Inc. downgraded American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price target for the company. in a research note on Monday, June 12th. BidaskClub downgraded 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 raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a research note on Thursday, August 3rd. Finally, Raymond James Financial, Inc. reissued an “outperform” rating on shares of American Tower Corporation (REIT) in a research note on Monday, June 12th. Thirteen investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $144.33.

In related news, EVP Amit Sharma sold 20,747 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the completion of the transaction, the executive vice president now directly owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,295 shares of company stock valued at $6,387,520. 0.86% of the stock is owned by corporate 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.

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

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