Keel Point LLC Has $1.15 Million Stake in American Tower Corporation (REIT) (AMT)

Keel Point LLC lifted its holdings in shares of American Tower Corporation (REIT) (NYSE:AMT) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,711 shares of the real estate investment trust’s stock after buying an additional 98 shares during the period. Keel Point LLC’s holdings in American Tower Corporation (REIT) were worth $1,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CIBC World Markets Inc. boosted its position in shares of American Tower Corporation (REIT) by 100.6% during the second quarter. CIBC World Markets Inc. now owns 21,261 shares of the real estate investment trust’s stock worth $2,813,000 after buying an additional 10,663 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of American Tower Corporation (REIT) by 33.0% during the second quarter. Oppenheimer & Co. Inc. now owns 81,470 shares of the real estate investment trust’s stock worth $10,780,000 after buying an additional 20,222 shares during the period. State of Tennessee Treasury Department boosted its position in shares of American Tower Corporation (REIT) by 9.7% during the second quarter. State of Tennessee Treasury Department now owns 349,736 shares of the real estate investment trust’s stock worth $46,277,000 after buying an additional 30,885 shares during the period. BTC Capital Management Inc. boosted its position in shares of American Tower Corporation (REIT) by 1.3% during the second quarter. BTC Capital Management Inc. now owns 34,728 shares of the real estate investment trust’s stock worth $4,592,000 after buying an additional 453 shares during the period. Finally, Motco boosted its position in shares of American Tower Corporation (REIT) by 6.8% during the second quarter. Motco now owns 3,112 shares of the real estate investment trust’s stock worth $412,000 after buying an additional 199 shares during the period. Institutional investors and hedge funds own 92.07% of the company’s stock.

AMT has been the subject of several analyst reports. BidaskClub upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research downgraded American Tower Corporation (REIT) from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Stifel Nicolaus reiterated a “buy” rating and set a $150.00 price objective on shares of American Tower Corporation (REIT) in a research report on Thursday, July 6th. Deutsche Bank AG boosted their price objective on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Finally, Cowen and Company reiterated a “buy” rating and set a $155.00 price objective on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $148.58.

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In other American Tower Corporation (REIT) news, EVP Amit Sharma sold 20,747 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $139.67, for a total value 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 $14,191,170.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were 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 directly owns 17,758 shares in the company, valued at $2,548,095.42. The disclosure for this sale can be found here. Insiders have sold 79,747 shares of company stock worth $11,314,943 over the last three months. 0.86% of the stock is owned by insiders.

American Tower Corporation (NYSE AMT) traded up 0.09% during midday trading on Friday, reaching $140.15. The company’s stock had a trading volume of 715,368 shares. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $148.71. The firm has a 50-day moving average price of $141.60 and a 200 day moving average price of $133.48. The stock has a market capitalization of $60.15 billion, a price-to-earnings ratio of 56.06 and a beta of 0.69.

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 company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the company earned $1.38 earnings per share. American Tower Corporation (REIT)’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities research analysts predict that American Tower Corporation will post $3.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.66 per share. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. This represents a $2.64 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Thursday, September 28th. American Tower Corporation (REIT)’s dividend payout ratio is 106.02%.

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.

Institutional Ownership by Quarter for American Tower Corporation (REIT) (NYSE:AMT)

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