Retirement Systems of Alabama Acquires 2,150 Shares of American Tower Corporation (REIT) (AMT)

Retirement Systems of Alabama raised its holdings in American Tower Corporation (REIT) (NYSE:AMT) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 453,017 shares of the real estate investment trust’s stock after purchasing an additional 2,150 shares during the period. Retirement Systems of Alabama owned 0.11% of American Tower Corporation (REIT) worth $61,918,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. Shine Investment Advisory Services Inc. purchased a new stake in shares of American Tower Corporation (REIT) in the second quarter valued at about $100,000. Alexandria Capital LLC lifted its holdings 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 valued at $107,000 after purchasing an additional 4 shares in the last quarter. Howe & Rusling Inc. lifted its holdings in shares of American Tower Corporation (REIT) by 1,608.0% in the third quarter. Howe & Rusling Inc. now owns 854 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 804 shares in the last quarter. Peddock Capital Advisors LLC purchased a new stake in shares of American Tower Corporation (REIT) in the second quarter valued at about $119,000. Finally, Legacy Advisors LLC purchased a new stake in shares of American Tower Corporation (REIT) in the third quarter valued at about $132,000. 92.04% of the stock is currently owned by institutional investors.



Several analysts have issued reports on the stock. ValuEngine raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research downgraded shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Thursday. Argus upped their price target on shares of American Tower Corporation (REIT) to $170.00 and gave the company a “buy” rating in a report on Thursday. Jefferies Group LLC upped their price target on shares of American Tower Corporation (REIT) from $144.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, Macquarie upped their price target on shares of American Tower Corporation (REIT) from $162.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, November 1st. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $155.85.

In related news, EVP Edmund Disanto sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $136.00, for a total transaction of $1,360,000.00. Following the completion of the transaction, the executive vice president now owns 151,928 shares of the company’s stock, valued at $20,662,208. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amit Sharma sold 20,747 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the transaction, the executive vice president now directly owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The disclosure for this sale can be found here. Insiders have sold 113,747 shares of company stock valued at $16,054,543 in the last ninety days. 0.86% of the stock is currently owned by company insiders.

Shares of American Tower Corporation (NYSE:AMT) traded down $1.28 during mid-day trading on Monday, reaching $150.54. 1,537,100 shares of the company traded hands, compared to its average volume of 1,979,064. American Tower Corporation has a 1 year low of $99.72 and a 1 year high of $155.28. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61. The firm has a market capitalization of $64,559.98, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 1.77 and a beta of 0.74.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Friday, September 29th were given a dividend of $0.66 per share. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.64 annualized dividend and a yield of 1.75%. American Tower Corporation (REIT)’s dividend payout ratio is 100.38%.

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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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