Strs Ohio decreased its stake in American Tower Corporation (REIT) (NYSE:AMT) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 464,843 shares of the real estate investment trust’s stock after selling 20,915 shares during the period. Strs Ohio’s holdings in American Tower Corporation (REIT) were worth $61,508,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of American Tower Corporation (REIT) by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 169,896 shares of the real estate investment trust’s stock worth $17,959,000 after buying an additional 4,377 shares during the period. CENTRAL TRUST Co raised its stake in shares of American Tower Corporation (REIT) by 24.3% in the first quarter. CENTRAL TRUST Co now owns 4,134 shares of the real estate investment trust’s stock worth $503,000 after buying an additional 807 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of American Tower Corporation (REIT) during the first quarter worth $29,700,000. Raymond James Trust N.A. raised its stake in shares of American Tower Corporation (REIT) by 5.5% in the first quarter. Raymond James Trust N.A. now owns 6,422 shares of the real estate investment trust’s stock worth $781,000 after buying an additional 336 shares during the period. Finally, Stock Yards Bank & Trust Co. raised its stake in shares of American Tower Corporation (REIT) by 4.3% in the first quarter. Stock Yards Bank & Trust Co. now owns 94,511 shares of the real estate investment trust’s stock worth $11,487,000 after buying an additional 3,916 shares during the period. Hedge funds and other institutional investors own 93.26% of the company’s stock.
Shares of American Tower Corporation (NYSE:AMT) opened at 137.57 on Friday. The firm has a market capitalization of $59.04 billion, a price-to-earnings ratio of 55.03 and a beta of 0.71. The company has a 50-day moving average price of $133.71 and a 200-day moving average price of $122.47. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $139.50.
American Tower Corporation (REIT) (NYSE:AMT) last issued 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 return on equity of 16.70% and a net margin of 18.58%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the company earned $1.38 EPS. American Tower Corporation (REIT)’s revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts forecast that American Tower Corporation will post $3.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, June 19th were issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, June 15th. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. American Tower Corporation (REIT)’s dividend payout ratio is presently 102.81%.
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A number of analysts have recently weighed in on AMT shares. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 target price for the company in a research note on Thursday, July 27th. Deutsche Bank AG raised their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Royal Bank Of Canada raised their target price on American Tower Corporation (REIT) from $134.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Stifel Nicolaus restated a “buy” rating and issued a $150.00 target price on shares of American Tower Corporation (REIT) in a research note on Thursday, July 6th. Finally, Guggenheim upgraded American Tower Corporation (REIT) from a “neutral” rating to a “buy” rating and raised their target price for the company from $117.00 to $135.00 in a research note on Monday, April 10th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $142.67.
In other American Tower Corporation (REIT) news, EVP Steven C. Marshall sold 20,548 shares of the company’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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Amit Sharma sold 61,096 shares of the company’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $126.57, for a total value of $7,732,920.72. Following the completion of the transaction, the executive vice president now directly owns 177,556 shares of the company’s stock, valued at approximately $22,473,262.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,297 shares of company stock valued at $10,975,069. Insiders own 0.86% of the company’s stock.
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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