Camden Asset Management L P CA Cuts Holdings in American Tower Corporation (REIT) (AMT)

Camden Asset Management L P CA lowered its position in American Tower Corporation (REIT) (NYSE:AMT) by 93.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,400 shares of the real estate investment trust’s stock after selling 1,184,325 shares during the quarter. Camden Asset Management L P CA’s holdings in American Tower Corporation (REIT) were worth $11,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Shine Investment Advisory Services Inc. purchased a new stake in American Tower Corporation (REIT) in the second quarter worth approximately $100,000. Alexandria Capital LLC boosted its stake in 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 in the last quarter. Peddock Capital Advisors LLC purchased a new stake in American Tower Corporation (REIT) in the second quarter worth approximately $119,000. Heritage Trust Co purchased a new stake in American Tower Corporation (REIT) in the first quarter worth approximately $122,000. Finally, Webster Bank N. A. boosted its stake in American Tower Corporation (REIT) by 86.1% in the first quarter. Webster Bank N. A. now owns 1,005 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 465 shares in the last quarter. 92.09% of the stock is owned by institutional investors and hedge funds.

American Tower Corporation (NYSE AMT) traded down 1.36% during mid-day trading on Friday, hitting $144.99. The stock had a trading volume of 2,240,630 shares. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $148.71. The stock’s 50-day moving average price is $140.73 and its 200-day moving average price is $129.21. The stock has a market cap of $62.23 billion, a price-to-earnings ratio of 58.00 and a beta of 0.70.

American Tower Corporation (REIT) (NYSE:AMT) last released its 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 company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.38 EPS. On average, analysts predict that American Tower Corporation will post $3.02 earnings per share for the current year.

Several brokerages have issued reports on AMT. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $153.00 target price on shares of American Tower Corporation (REIT) in a research note on Friday, September 1st. Citigroup Inc. upped their target price on American Tower Corporation (REIT) from $142.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. BidaskClub raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Argus upped their target price on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a research note on Thursday, August 3rd. Thirteen investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $145.00.

In related news, Director Pamela D. A. Reeve sold 5,000 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $143.49, for a total transaction of $717,450.00. Following the completion of the transaction, the director now owns 17,758 shares in the company, valued at approximately $2,548,095.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,295 shares of company stock worth $6,387,520. Corporate insiders own 0.86% of the company’s stock.

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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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