American Tower Corporation (REIT) (NYSE:AMT) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC lowered its position in American Tower Corporation (REIT) (NYSE:AMT) by 19.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,200 shares of the real estate investment trust’s stock after selling 1,500 shares during the period. Tributary Capital Management LLC’s holdings in American Tower Corporation (REIT) were worth $820,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AMT. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its position in American Tower Corporation (REIT) by 32.5% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 33,847 shares of the real estate investment trust’s stock worth $4,487,000 after buying an additional 8,299 shares during the period. Gilbert & Cook Inc. bought a new position in American Tower Corporation (REIT) during the second quarter worth approximately $233,000. Wagner Bowman Management Corp boosted its position in American Tower Corporation (REIT) by 2.2% in the second quarter. Wagner Bowman Management Corp now owns 8,287 shares of the real estate investment trust’s stock worth $1,096,000 after buying an additional 175 shares during the period. Quantitative Systematic Strategies LLC bought a new position in American Tower Corporation (REIT) during the second quarter worth approximately $426,000. Finally, Huntington National Bank boosted its position in American Tower Corporation (REIT) by 2.9% in the second quarter. Huntington National Bank now owns 51,213 shares of the real estate investment trust’s stock worth $6,776,000 after buying an additional 1,439 shares during the period. 93.26% of the stock is owned by hedge funds and other institutional investors.

Shares of American Tower Corporation (AMT) traded up 1.43% during midday trading on Wednesday, hitting $137.92. 897,144 shares of the stock were exchanged. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $139.50. The stock’s 50-day moving average price is $133.71 and its 200-day moving average price is $122.47. The firm has a market capitalization of $59.19 billion, a price-to-earnings ratio of 55.17 and a beta of 0.71.

American Tower Corporation (REIT) (NYSE:AMT) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the consensus estimate of $1.55 by $0.75. The firm 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 was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 EPS. On average, analysts forecast that American Tower Corporation will post $3.03 EPS for the current 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 dividend of $0.64 per share. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, June 15th. This represents a $2.56 annualized dividend and a dividend yield of 1.88%. American Tower Corporation (REIT)’s dividend payout ratio is presently 102.81%.

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A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Monday. Cowen and Company reaffirmed a “buy” rating and set a $155.00 price objective on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Deutsche Bank AG lifted their price objective on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $150.00 price objective on shares of American Tower Corporation (REIT) in a research report on Thursday, July 6th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $141.08.

In other news, EVP Steven C. Marshall sold 20,548 shares of the stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total transaction of $2,772,336.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David E. Sharbutt sold 3,653 shares of the 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 transaction, the director now owns 10,098 shares of the company’s stock, valued at approximately $1,298,703.78. The disclosure for this sale can be found here. Insiders have sold a total of 85,297 shares of company stock valued at $10,975,069 in the last quarter. 0.86% of the stock is owned by corporate insiders.

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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