American Tower Corporation (REIT) (AMT) Position Increased by Smithfield Trust Co.

Smithfield Trust Co. increased its position in shares of American Tower Corporation (REIT) (NYSE:AMT) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,691 shares of the real estate investment trust’s stock after buying an additional 152 shares during the period. Smithfield Trust Co.’s holdings in American Tower Corporation (REIT) were worth $223,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Alexandria Capital LLC raised its stake 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 stake 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. Guardian Life Insurance Co. of America raised its stake 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. Homrich & Berg raised its stake in shares of American Tower Corporation (REIT) by 0.3% in the first quarter. Homrich & Berg now owns 7,046 shares of the real estate investment trust’s stock worth $856,000 after buying an additional 24 shares during the period. Finally, CHICAGO TRUST Co NA raised its stake in shares of American Tower Corporation (REIT) by 1.5% in the second quarter. CHICAGO TRUST Co NA now owns 2,010 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 93.40% of the company’s stock.

American Tower Corporation (NYSE:AMT) opened at 136.83 on Friday. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $139.50. The company has a market cap of $58.72 billion, a PE ratio of 54.73 and a beta of 0.71. The firm has a 50-day moving average of $134.98 and a 200 day moving average of $123.72.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 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 business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the business posted $1.38 earnings per share. American Tower Corporation (REIT)’s revenue was up 15.3% on a year-over-year basis. Equities research analysts expect that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 19th were issued a dividend of $0.64 per share. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. This represents a $2.56 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Thursday, June 15th. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is currently 102.81%.

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A number of equities research analysts have recently issued reports on the stock. Cowen and Company restated a “buy” rating and issued a $155.00 target price on shares of American Tower Corporation (REIT) in a research note on Wednesday, July 19th. Citigroup Inc. downgraded shares of American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price objective for the company. in a research report on Monday, June 12th. BidaskClub downgraded shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of American Tower Corporation (REIT) in a research report on Monday, June 12th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $142.67.

In related 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 this link. Also, Director David E. Sharbutt sold 3,653 shares of American Tower Corporation (REIT) stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $128.61, for a total transaction of $469,812.33. Following the transaction, the director now directly 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.

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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Institutional Ownership by Quarter for American Tower Corporation (REIT) (NYSE:AMT)

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