Logan Capital Management Inc. Acquires 500 Shares of American Tower Corporation (REIT) (NYSE:AMT)

Logan Capital Management Inc. raised its stake in shares of American Tower Corporation (REIT) (NYSE:AMT) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,950 shares of the real estate investment trust’s stock after buying an additional 500 shares during the period. Logan Capital Management Inc.’s holdings in American Tower Corporation (REIT) were worth $2,060,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Integrated Investment Consultants LLC increased its stake in shares of American Tower Corporation (REIT) by 0.9% in the first quarter. Integrated Investment Consultants LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 13 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of American Tower Corporation (REIT) by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 1,650 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 19 shares during the last quarter. Homrich & Berg increased its stake in shares of American Tower Corporation (REIT) by 0.3% in the first quarter. Homrich & Berg now owns 7,046 shares of the real estate investment trust’s stock valued at $856,000 after buying an additional 24 shares during the last quarter. iAB Financial Bank increased its stake in shares of American Tower Corporation (REIT) by 1.8% in the first quarter. iAB Financial Bank now owns 2,035 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 35 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. increased its stake in shares of American Tower Corporation (REIT) by 1.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 1,934 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 36 shares during the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Tower Corporation (NYSE:AMT) traded up 0.48% on Friday, hitting $136.90. The stock had a trading volume of 1,542,668 shares. The company has a market capitalization of $58.18 billion, a P/E ratio of 66.10 and a beta of 0.71. The firm has a 50 day moving average price of $132.46 and a 200 day moving average price of $120.50. American Tower Corporation has a one year low of $99.72 and a one year high of $138.00.

American Tower Corporation (REIT) (NYSE:AMT) last issued its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.51 by $0.84. American Tower Corporation (REIT) had a return on equity of 14.26% and a net margin of 16.32%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, equities research analysts predict that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Monday, June 19th were given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 1.87%. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. The ex-dividend date was Thursday, June 15th. American Tower Corporation (REIT)’s dividend payout ratio is presently 124.27%.

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Several brokerages have weighed in on AMT. Cowen and Company reaffirmed a “buy” rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a research note on Wednesday. Citigroup Inc. downgraded American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price objective on the stock. in a research note on Monday, June 12th. BidaskClub downgraded American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research downgraded American Tower Corporation (REIT) from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Raymond James Financial, Inc. reissued an “outperform” rating on shares of American Tower Corporation (REIT) in a research note on Monday, June 12th. One research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $140.17.

In other American Tower Corporation (REIT) news, Director David E. Sharbutt sold 3,653 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $128.61, for a total value of $469,812.33. Following the completion of the sale, the director now directly owns 10,098 shares of the company’s stock, valued at approximately $1,298,703.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven C. Marshall sold 20,548 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total transaction of $2,772,336.16. The disclosure for this sale can be found here. Insiders sold a total of 133,350 shares of company stock valued at $17,042,690 over the last ninety days. 0.86% of the stock is currently owned by insiders.

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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