American Tower Corporation (REIT) (NYSE:AMT) Holdings Increased by Los Angeles Capital Management & Equity Research Inc.

Los Angeles Capital Management & Equity Research Inc. raised its position in shares of American Tower Corporation (REIT) (NYSE:AMT) by 2,138.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,663 shares of the real estate investment trust’s stock after purchasing an additional 73,238 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in American Tower Corporation (REIT) were worth $10,144,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMT. Shine Investment Advisory Services Inc. bought a new stake in American Tower Corporation (REIT) in the second quarter worth $100,000. Alexandria Capital LLC boosted its holdings in American Tower Corporation (REIT) by 0.5% during the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 4 shares during the period. Peddock Capital Advisors LLC bought a new stake in American Tower Corporation (REIT) during the second quarter valued at about $119,000. Heritage Trust Co bought a new stake in American Tower Corporation (REIT) during the first quarter valued at about $122,000. Finally, Webster Bank N. A. boosted its holdings in American Tower Corporation (REIT) by 86.1% during 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 acquiring an additional 465 shares during the period. 92.09% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Steven C. Marshall sold 20,548 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $145.89, for a total value of $4,960,260.00. Following the transaction, the chairman now owns 304,707 shares of the company’s stock, valued at $44,453,704.23. The disclosure for this sale can be found here. Insiders sold a total of 80,295 shares of company stock valued at $11,347,780 over the last three months. 0.86% of the stock is currently owned by insiders.

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A number of equities research analysts have issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $144.00 price target on shares of American Tower Corporation (REIT) in a research report on Tuesday, September 12th. UBS AG increased their price target on shares of American Tower Corporation (REIT) from $150.00 to $163.00 and gave the stock a “buy” rating in a research report on Monday, September 11th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $153.00 price objective on shares of American Tower Corporation (REIT) in a report on Friday, September 1st. Citigroup Inc. raised their price objective on shares of American Tower Corporation (REIT) from $142.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 28th. Finally, BidaskClub raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Thirteen equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $148.58.

Shares of American Tower Corporation (NYSE AMT) opened at 145.01 on Friday. The company’s 50 day moving average is $141.85 and its 200-day moving average is $130.37. The firm has a market capitalization of $62.23 billion, a price-to-earnings ratio of 58.00 and a beta of 0.70. American Tower Corporation has a one year low of $99.72 and a one year high of $148.71.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.75). American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company earned $1.38 EPS. American Tower Corporation (REIT)’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts expect that American Tower Corporation will post $3.02 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Friday, September 29th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.82%. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, September 28th. American Tower Corporation (REIT)’s dividend payout ratio is currently 102.81%.

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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