South Dakota Investment Council Has $7,503,000 Position in American Tower Corporation (REIT) (NYSE:AMT)

South Dakota Investment Council held its stake in American Tower Corporation (REIT) (NYSE:AMT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,700 shares of the real estate investment trust’s stock at the close of the 2nd quarter. South Dakota Investment Council’s holdings in American Tower Corporation (REIT) were worth $7,503,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AMT. Waldron LP purchased a new stake in American Tower Corporation (REIT) in the first quarter worth about $307,000. Acadian Asset Management LLC grew its holdings in American Tower Corporation (REIT) by 296.4% in the first quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock worth $579,000 after purchasing an additional 3,560 shares during the period. Linscomb & Williams Inc. grew its holdings in American Tower Corporation (REIT) by 2.8% in the first quarter. Linscomb & Williams Inc. now owns 10,385 shares of the real estate investment trust’s stock worth $1,262,000 after purchasing an additional 280 shares during the period. Canada Pension Plan Investment Board grew its holdings in American Tower Corporation (REIT) by 144.7% in the first quarter. Canada Pension Plan Investment Board now owns 991,009 shares of the real estate investment trust’s stock worth $120,447,000 after purchasing an additional 585,985 shares during the period. Finally, Markel Corp grew its holdings in American Tower Corporation (REIT) by 110.7% in the first quarter. Markel Corp now owns 29,500 shares of the real estate investment trust’s stock worth $3,585,000 after purchasing an additional 15,500 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

American Tower Corporation (NYSE AMT) opened at 137.78 on Friday. The company has a market cap of $59.13 billion, a P/E ratio of 55.11 and a beta of 0.70. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $148.71. The company’s 50-day moving average is $142.16 and its 200-day moving average is $131.01.

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

The business 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 dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, September 28th. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s payout ratio is currently 102.81%.

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In other American Tower Corporation (REIT) news, 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 transaction of $4,960,260.00. Following the sale, the chairman now owns 304,707 shares of the company’s stock, valued at approximately $44,453,704.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela D. A. Reeve sold 5,000 shares of the company’s stock in a transaction 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 sale, 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. In the last three months, insiders have sold 80,295 shares of company stock worth $11,347,780. 0.86% of the stock is owned by insiders.

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

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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