Northeast Investment Management Decreases Holdings in American Tower Corp (AMT)

Northeast Investment Management lessened its stake in shares of American Tower Corp (NYSE:AMT) by 0.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 167,504 shares of the real estate investment trust’s stock after selling 847 shares during the quarter. American Tower makes up 2.0% of Northeast Investment Management’s holdings, making the stock its 13th biggest holding. Northeast Investment Management’s holdings in American Tower were worth $22,894,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. bought a new stake in shares of American Tower in the second quarter worth $100,000. Howe & Rusling Inc. grew its stake in shares of American Tower by 1,608.0% in the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 804 shares during the last quarter. Peddock Capital Advisors LLC bought a new stake in shares of American Tower in the second quarter worth $119,000. Legacy Advisors LLC bought a new stake in shares of American Tower in the third quarter worth $132,000. Finally, Glassman Wealth Services grew its stake in shares of American Tower 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 purchasing an additional 231 shares during the last quarter. 91.89% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Edmund Disanto sold 10,000 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $137.95, for a total transaction of $1,379,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $151.20, for a total transaction of $5,140,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,000 shares of company stock worth $17,580,160. 0.86% of the stock is owned by company insiders.

Several brokerages recently weighed in on AMT. ValuEngine raised shares of American Tower from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Zacks Investment Research cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. UBS boosted their price objective on shares of American Tower from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, September 11th. Citigroup boosted their price objective on shares of American Tower from $142.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $153.00 price objective on shares of American Tower in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $158.50.

American Tower Corp (NYSE AMT) opened at $138.97 on Tuesday. The stock has a market cap of $61,588.01, a price-to-earnings ratio of 22.23, a P/E/G ratio of 1.69 and a beta of 0.73. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower Corp has a fifty-two week low of $100.79 and a fifty-two week high of $155.28.

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American Tower 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 (NYSE:AMT)

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