DF Dent & Co. Inc. Has $89.50 Million Stake in American Tower Corporation (REIT) (AMT)

DF Dent & Co. Inc. trimmed its position in American Tower Corporation (REIT) (NYSE:AMT) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 676,358 shares of the real estate investment trust’s stock after selling 10,994 shares during the quarter. American Tower Corporation (REIT) comprises approximately 2.4% of DF Dent & Co. Inc.’s holdings, making the stock its 19th largest position. DF Dent & Co. Inc. owned 0.16% of American Tower Corporation (REIT) worth $89,496,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of AMT. Shine Investment Advisory Services Inc. acquired a new stake in shares of American Tower Corporation (REIT) in the second quarter worth $100,000. Alexandria Capital LLC lifted 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 last quarter. Peddock Capital Advisors LLC acquired a new stake in shares of American Tower Corporation (REIT) in the second quarter worth $119,000. Glassman Wealth Services lifted its stake in shares of American Tower Corporation (REIT) by 28.9% in the second quarter. Glassman Wealth Services now owns 1,029 shares of the real estate investment trust’s stock worth $136,000 after buying an additional 231 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted 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 worth $157,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 92.07% of the company’s stock.

American Tower Corporation (NYSE AMT) traded down 0.025% during trading on Tuesday, reaching $137.905. 960,665 shares of the company traded hands. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $148.71. The company’s 50-day moving average is $141.92 and its 200 day moving average is $133.27. The company has a market cap of $59.19 billion, a PE ratio of 55.162 and a beta of 0.69.

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 for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.75). The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 earnings per share. On average, analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.66 per share. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Thursday, September 28th. American Tower Corporation (REIT)’s payout ratio is 106.02%.

A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Raymond James Financial, Inc. restated an “outperform” rating on shares of American Tower Corporation (REIT) in a research note on Monday, June 12th. Citigroup Inc. cut shares of American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price objective for the company. in a research note on Monday, June 12th. UBS AG boosted their price objective on shares of American Tower Corporation (REIT) from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, September 11th. Finally, BidaskClub cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $148.58.

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In related news, EVP Edmund Disanto sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $137.95, for a total value of $1,379,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $143.49, for a total value of $717,450.00. Following the completion of the sale, the director now owns 17,758 shares in the company, valued at $2,548,095.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,747 shares of company stock worth $11,314,943. 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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