American Tower Corporation (REIT) (AMT) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC decreased its stake in shares of American Tower Corporation (REIT) (NYSE:AMT) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,504 shares of the real estate investment trust’s stock after selling 16 shares during the period. Welch & Forbes LLC’s holdings in American Tower Corporation (REIT) were worth $463,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in AMT. Alexandria Capital LLC boosted its position in 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 valued at $107,000 after buying an additional 4 shares during the last quarter. Heritage Trust Co acquired a new stake in shares of American Tower Corporation (REIT) during the first quarter valued at about $122,000. Webster Bank N. A. raised its stake in shares of American Tower Corporation (REIT) by 86.1% in the first quarter. Webster Bank N. A. now owns 1,005 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 465 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of American Tower Corporation (REIT) by 72.6% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,189 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 500 shares during the period. Finally, 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 valued at $163,000 after buying an additional 15 shares during the period. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Shares of American Tower Corporation (AMT) opened at 136.83 on Friday. The stock has a 50 day moving average of $134.98 and a 200 day moving average of $123.72. American Tower Corporation has a 12-month low of $99.72 and a 12-month high of $139.50. The company has a market cap of $58.72 billion, a price-to-earnings ratio of 54.73 and a beta of 0.71.

American Tower Corporation (REIT) (NYSE:AMT) last posted its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $1.55 by $0.75. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned $1.38 EPS. On average, equities analysts expect that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

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

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Several equities research analysts have issued reports on the stock. Argus boosted their price target on shares of American Tower Corporation (REIT) from $140.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a report on Thursday, August 3rd. BidaskClub raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Deutsche Bank AG boosted their price target on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a report on Friday, July 14th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $150.00 price target on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $142.67.

In related news, Director David E. Sharbutt sold 3,653 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $128.61, for a total value of $469,812.33. Following the completion of the transaction, the director now owns 10,098 shares of the company’s stock, valued at $1,298,703.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The disclosure for this sale can be found here. 0.86% of the stock is owned by insiders.

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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