Wagner Bowman Management Corp Buys 175 Shares of American Tower Corporation (REIT) (AMT)

Wagner Bowman Management Corp boosted its position in American Tower Corporation (REIT) (NYSE:AMT) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,287 shares of the real estate investment trust’s stock after buying an additional 175 shares during the period. Wagner Bowman Management Corp’s holdings in American Tower Corporation (REIT) were worth $1,096,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMT. Vontobel Asset Management Inc. raised its stake in shares of 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 worth $176,930,000 after buying an additional 109,197 shares during the last quarter. Union Bankshares Corp raised its stake in shares of American Tower Corporation (REIT) by 2.7% in the first quarter. Union Bankshares Corp now owns 2,102 shares of the real estate investment trust’s stock worth $255,000 after buying an additional 56 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of American Tower Corporation (REIT) by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 132,644 shares of the real estate investment trust’s stock worth $16,121,000 after buying an additional 1,700 shares during the last quarter. GW&K Investment Management LLC raised its stake in shares of American Tower Corporation (REIT) by 297.5% in the first quarter. GW&K Investment Management LLC now owns 316,761 shares of the real estate investment trust’s stock worth $38,499,000 after buying an additional 237,069 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. raised its stake in shares of American Tower Corporation (REIT) by 4.3% in the first quarter. Stock Yards Bank & Trust Co. now owns 94,511 shares of the real estate investment trust’s stock worth $11,487,000 after buying an additional 3,916 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

American Tower Corporation (AMT) traded up 0.25% during trading on Friday, hitting $140.00. The stock had a trading volume of 1,114,278 shares. The firm has a market capitalization of $60.08 billion, a P/E ratio of 56.00 and a beta of 0.71. The stock has a 50 day moving average of $136.09 and a 200 day moving average of $125.24. American Tower Corporation has a one year low of $99.72 and a one year high of $141.51.

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 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 period in the prior year, the business earned $1.38 EPS. The company’s revenue for the quarter 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.

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A number of brokerages recently commented on AMT. Zacks Investment Research upgraded 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. Argus lifted their price objective on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. BidaskClub lowered American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Cowen and Company restated a “buy” rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Finally, Deutsche Bank AG boosted their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $142.67.

In related news, EVP Steven C. Marshall sold 20,548 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.

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

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