Sand Hill Global Advisors LLC Has $3.95 Million Position in American Tower Corporation (REIT) (NYSE:AMT)

Sand Hill Global Advisors LLC cut its position in shares of American Tower Corporation (REIT) (NYSE:AMT) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,865 shares of the real estate investment trust’s stock after selling 332 shares during the period. Sand Hill Global Advisors LLC’s holdings in American Tower Corporation (REIT) were worth $3,952,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. bought a new position in American Tower Corporation (REIT) during the second quarter valued at approximately $100,000. Alexandria Capital LLC boosted its stake in American Tower Corporation (REIT) by 0.5% during the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 4 shares during the last quarter. Peddock Capital Advisors LLC bought a new position in American Tower Corporation (REIT) during the second quarter valued at approximately $119,000. Webster Bank N. A. raised its position in American Tower Corporation (REIT) by 86.1% during the first quarter. Webster Bank N. A. now owns 1,005 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 465 shares during the period. Finally, Heritage Trust Co purchased a new stake in American Tower Corporation (REIT) during the first quarter valued at approximately $122,000. 92.09% of the stock is owned by institutional investors.

AMT has been the topic of a number of recent research reports. Citigroup Inc. upped their price objective on American Tower Corporation (REIT) from $142.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 price objective on the stock in a research report on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating and set a $153.00 price objective on shares of American Tower Corporation (REIT) in a research report on Friday, September 1st. Deutsche Bank AG upped their price objective on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Finally, Argus upped their price objective on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Thirteen investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average price target of $148.58.

American Tower Corporation (NYSE AMT) traded up 1.06% on Friday, reaching $144.36. The company’s stock had a trading volume of 1,374,750 shares. The firm has a market capitalization of $61.96 billion, a price-to-earnings ratio of 57.74 and a beta of 0.70. The company has a 50 day moving average of $141.56 and a 200 day moving average of $130.15. American Tower Corporation has a 52 week low of $99.72 and a 52 week high of $148.71.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.75). The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 earnings per share. On average, analysts forecast that American Tower Corporation will post $3.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be given a $0.66 dividend. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, September 28th. This represents a $2.64 dividend on an annualized basis and a yield of 1.85%. American Tower Corporation (REIT)’s payout ratio is presently 102.81%.

In other American Tower Corporation (REIT) news, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total value of $2,772,336.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $44,453,704.23. The disclosure for this sale can be found here. In the last three months, insiders sold 80,295 shares of company stock worth $11,347,780. 0.86% of the stock is owned by corporate insiders.

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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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