DE Burlo Group Inc. acquired a new stake in shares of American Tower Corporation (REIT) (NYSE:AMT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 56,020 shares of the real estate investment trust’s stock, valued at approximately $7,412,000. American Tower Corporation (REIT) accounts for approximately 1.7% of DE Burlo Group Inc.’s investment portfolio, making the stock its 26th largest position.
Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in shares of American Tower Corporation (REIT) by 296.4% in the first quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock valued at $579,000 after buying an additional 3,560 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of American Tower Corporation (REIT) by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 43,143 shares of the real estate investment trust’s stock valued at $5,244,000 after buying an additional 7,152 shares during the last quarter. Telos Capital Management Inc. increased its position in shares of American Tower Corporation (REIT) by 17.0% in the first quarter. Telos Capital Management Inc. now owns 13,033 shares of the real estate investment trust’s stock valued at $1,584,000 after buying an additional 1,897 shares during the last quarter. Wellington Management Group LLP increased its position in shares of American Tower Corporation (REIT) by 8.4% in the first quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock valued at $2,648,146,000 after buying an additional 1,679,615 shares during the last quarter. Finally, Israel Discount Bank of New York bought a new position in shares of American Tower Corporation (REIT) during the first quarter valued at approximately $640,000. 92.36% of the stock is currently owned by institutional investors.
American Tower Corporation (AMT) opened at 140.00 on Friday. The stock has a 50 day moving average price of $136.09 and a 200 day moving average price of $125.24. The company has a market capitalization of $60.08 billion, a price-to-earnings ratio of 56.00 and a beta of 0.71. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $141.51.
American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the company earned $1.38 earnings per share. American Tower Corporation (REIT)’s quarterly revenue was up 15.3% on a year-over-year basis. Equities research analysts forecast that American Tower Corporation will post $3.02 earnings per share for the current year.
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Several brokerages have commented on AMT. Argus lifted their target price on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a report on Thursday, August 3rd. BidaskClub downgraded American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cowen and Company reaffirmed a “buy” rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Finally, Deutsche Bank AG lifted their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, July 14th. One research 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) has a consensus rating of “Buy” and an average price target of $142.67.
In other American Tower Corporation (REIT) news, EVP Steven C. Marshall sold 20,548 shares of the firm’s stock in a transaction that occurred on 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 is available at this link. 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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