Everett Harris & Co. CA 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 1,523 shares of the real estate investment trust’s stock, valued at approximately $202,000.
Several other institutional investors have also made changes to their positions in AMT. 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 shares of 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 shares of 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 shares of 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 shares of 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 92.36% of the company’s stock.
Shares of American Tower Corporation (AMT) opened at 140.00 on Friday. The firm has a 50-day moving average price of $136.09 and a 200-day moving average price of $125.24. American Tower Corporation has a 12-month low of $99.72 and a 12-month high of $141.51. The firm has a market cap of $60.08 billion, a P/E ratio of 56.00 and a beta of 0.71.
American Tower Corporation (REIT) (NYSE:AMT) last announced 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 business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the firm posted $1.38 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts expect that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.
Several brokerages recently weighed in on AMT. Cowen and Company reaffirmed a “buy” rating and set a $155.00 price target 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 report on Monday, June 12th. BidaskClub downgraded American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of American Tower Corporation (REIT) in a report on Monday, June 12th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company 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 business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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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