Reliance Trust Co. of Delaware boosted its position in American Tower Corporation (REIT) (NYSE:AMT) by 7.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,182 shares of the real estate investment trust’s stock after buying an additional 664 shares during the period. Reliance Trust Co. of Delaware’s holdings in American Tower Corporation (REIT) were worth $1,347,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. raised its position in American Tower Corporation (REIT) by 8.0% in the first quarter. Carroll Financial Associates Inc. now owns 2,704 shares of the real estate investment trust’s stock worth $328,000 after buying an additional 200 shares during the last quarter. National Pension Service raised its stake in American Tower Corporation (REIT) by 3.9% in the first quarter. National Pension Service now owns 315,949 shares of the real estate investment trust’s stock valued at $38,201,000 after buying an additional 11,737 shares in the last quarter. Quadrant Capital Group LLC raised its stake in American Tower Corporation (REIT) by 2.8% in the first quarter. Quadrant Capital Group LLC now owns 2,555 shares of the real estate investment trust’s stock valued at $302,000 after buying an additional 70 shares in the last quarter. Koshinski Asset Management Inc. acquired a new stake in American Tower Corporation (REIT) during the first quarter valued at about $239,000. Finally, Vontobel Asset Management Inc. raised its stake in American Tower Corporation (REIT) by 8.4% in the first quarter. Vontobel Asset Management Inc. now owns 1,412,135 shares of the real estate investment trust’s stock valued at $176,930,000 after buying an additional 109,197 shares in the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.
Shares of American Tower Corporation (AMT) opened at 139.69 on Wednesday. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $140.16. The company has a market capitalization of $59.95 billion, a PE ratio of 55.88 and a beta of 0.71. The stock has a 50 day moving average price of $135.59 and a 200-day moving average price of $124.75.
American Tower Corporation (REIT) (NYSE:AMT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 quarter last year, the business posted $1.38 EPS. The firm’s revenue was up 15.3% on a year-over-year basis. Analysts forecast that American Tower Corporation will post $3.02 EPS for the current year.
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Several equities research analysts recently issued reports on AMT shares. Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a research note on Thursday, May 4th. Royal Bank Of Canada lifted their price target on American Tower Corporation (REIT) from $134.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. BidaskClub lowered American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Citigroup Inc. downgraded American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price objective on the stock. in a report on Monday, June 12th. Finally, Cowen and Company reiterated a “buy” rating and issued a $155.00 price objective on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. American Tower Corporation (REIT) currently has an average rating of “Buy” and a consensus price target of $142.67.
In other news, EVP Steven C. Marshall sold 20,548 shares of American Tower Corporation (REIT) stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total transaction of $2,772,336.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David E. Sharbutt sold 3,653 shares of American Tower Corporation (REIT) stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $128.61, for a total transaction of $469,812.33. Following the sale, the director now owns 10,098 shares of the company’s stock, valued at $1,298,703.78. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.
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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