American Tower Corporation (REIT) (AMT) Holdings Increased by Piedmont Investment Advisors LLC

Piedmont Investment Advisors LLC boosted its position in American Tower Corporation (REIT) (NYSE:AMT) by 29.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 116,028 shares of the real estate investment trust’s stock after acquiring an additional 26,556 shares during the period. Piedmont Investment Advisors LLC’s holdings in American Tower Corporation (REIT) were worth $15,353,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its stake in American Tower Corporation (REIT) by 33.4% in the 2nd quarter. Sterling Capital Management LLC now owns 104,068 shares of the real estate investment trust’s stock worth $13,770,000 after acquiring an additional 26,082 shares during the period. Capital Innovations LLC purchased a new stake in American Tower Corporation (REIT) in the 2nd quarter worth approximately $212,000. Nomura Holdings Inc. purchased a new stake in American Tower Corporation (REIT) in the 2nd quarter worth approximately $4,251,000. Raymond James Financial Services Advisors Inc. grew its stake in American Tower Corporation (REIT) by 18.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 129,964 shares of the real estate investment trust’s stock worth $17,195,000 after acquiring an additional 20,110 shares during the period. Finally, Assetmark Inc. grew its stake in American Tower Corporation (REIT) by 4.6% in the 2nd quarter. Assetmark Inc. now owns 74,362 shares of the real estate investment trust’s stock worth $9,839,000 after acquiring an additional 3,264 shares during the period. 92.07% of the stock is owned by hedge funds and other institutional investors.

In other American Tower Corporation (REIT) news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the stock in a transaction 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 completion of the sale, the chairman now directly owns 304,707 shares of the company’s stock, valued at approximately $44,453,704.23. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Edmund Disanto sold 10,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 151,928 shares of the company’s stock, valued at $20,662,208. The disclosure for this sale can be found here. Insiders sold a total of 79,747 shares of company stock worth $11,314,943 over the last quarter. 0.86% of the stock is currently owned by company insiders.

Several analysts have commented on AMT shares. Zacks Investment Research raised shares of 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. Jefferies Group LLC reissued a “buy” rating and set a $144.00 price objective on shares of American Tower Corporation (REIT) in a research note on Tuesday, September 12th. BidaskClub raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Cowen and Company reissued a “buy” rating and set a $155.00 price objective on shares of American Tower Corporation (REIT) in a research note on Wednesday, July 19th. Finally, SunTrust Banks, Inc. reissued a “buy” rating on shares of American Tower Corporation (REIT) in a research note on Wednesday, September 20th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $148.58.

Shares of American Tower Corporation (NYSE AMT) traded up 1.31% during trading on Thursday, reaching $139.73. 789,364 shares of the company’s stock were exchanged. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $148.71. The company has a 50 day moving average of $141.68 and a 200 day moving average of $133.43. The firm has a market capitalization of $59.97 billion, a P/E ratio of 55.89 and a beta of 0.69.

American Tower Corporation (REIT) (NYSE:AMT) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the business posted $1.38 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current fiscal 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 paid a $0.66 dividend. The ex-dividend date is Thursday, September 28th. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a yield of 1.91%. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is presently 106.02%.

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American Tower Corporation (REIT) 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 Corporation (REIT) (NYSE:AMT)

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