Soros Fund Management LLC Purchases Shares of 3,400 American Tower Corporation (REIT) (NYSE:AMT)

Soros Fund Management LLC acquired a new position in American Tower Corporation (REIT) (NYSE:AMT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,400 shares of the real estate investment trust’s stock, valued at approximately $413,000.

A number of other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of American Tower Corporation (REIT) by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 169,896 shares of the real estate investment trust’s stock worth $17,959,000 after buying an additional 4,377 shares in the last quarter. Israel Discount Bank of New York GFN bought a new position in shares of American Tower Corporation (REIT) during the fourth quarter worth about $427,000. RMB Capital Management LLC increased its position in shares of American Tower Corporation (REIT) by 6.3% in the fourth quarter. RMB Capital Management LLC now owns 132,184 shares of the real estate investment trust’s stock worth $13,969,000 after buying an additional 7,888 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of American Tower Corporation (REIT) by 0.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,147,573 shares of the real estate investment trust’s stock worth $121,275,000 after buying an additional 9,537 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its position in shares of American Tower Corporation (REIT) by 124.8% in the fourth quarter. Perigon Wealth Management LLC now owns 10,234 shares of the real estate investment trust’s stock worth $1,184,000 after buying an additional 5,681 shares in the last quarter. Institutional investors own 93.40% of the company’s stock.

American Tower Corporation (NYSE AMT) traded down 1.04% during mid-day trading on Tuesday, hitting $136.63. 1,333,491 shares of the stock were exchanged. The company has a 50-day moving average price of $134.32 and a 200-day moving average price of $122.79. The company has a market cap of $58.64 billion, a P/E ratio of 54.65 and a beta of 0.71. American Tower Corporation has a one year low of $99.72 and a one year high of $139.50.

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 for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by $0.75. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the firm posted $1.38 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, analysts predict that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, June 19th were issued a dividend of $0.64 per share. The ex-dividend date was Thursday, June 15th. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.87%. American Tower Corporation (REIT)’s payout ratio is 102.81%.

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A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research note on Thursday, August 3rd. Argus raised their price target on shares of 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. BidaskClub cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Cowen and Company reissued a “buy” rating and issued a $155.00 target price on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Finally, Deutsche Bank AG raised their target price on shares of 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. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. American Tower Corporation (REIT) has an average rating of “Buy” and a consensus target price of $142.67.

In other news, EVP Amit Sharma sold 61,096 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $126.57, for a total transaction of $7,732,920.72. Following the completion of the transaction, the executive vice president now directly owns 177,556 shares in the company, valued at $22,473,262.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Steven C. Marshall sold 20,548 shares of the company’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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,297 shares of company stock valued at $10,975,069. Corporate insiders own 0.86% of the company’s stock.

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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