Wilkins Investment Counsel Inc. Has $4,704,000 Stake in American Tower Corporation (REIT) (NYSE:AMT)

Wilkins Investment Counsel Inc. maintained its stake in shares of American Tower Corporation (REIT) (NYSE:AMT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,550 shares of the real estate investment trust’s stock at the close of the 2nd quarter. Wilkins Investment Counsel Inc.’s holdings in American Tower Corporation (REIT) were worth $4,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pittenger & Anderson Inc. lifted its holdings in shares of American Tower Corporation (REIT) by 5.3% in the 2nd quarter. Pittenger & Anderson Inc. now owns 48,350 shares of the real estate investment trust’s stock worth $6,398,000 after purchasing an additional 2,440 shares during the last quarter. HPM Partners LLC lifted its holdings in shares of American Tower Corporation (REIT) by 18.0% in the 2nd quarter. HPM Partners LLC now owns 11,838 shares of the real estate investment trust’s stock worth $1,566,000 after purchasing an additional 1,808 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of American Tower Corporation (REIT) in the 2nd quarter worth approximately $460,000. Eaton Vance Management lifted its holdings in shares of American Tower Corporation (REIT) by 6.0% in the 2nd quarter. Eaton Vance Management now owns 746,498 shares of the real estate investment trust’s stock worth $98,777,000 after purchasing an additional 42,318 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its holdings in shares of American Tower Corporation (REIT) by 100.6% in the 2nd quarter. CIBC World Markets Inc. now owns 21,261 shares of the real estate investment trust’s stock worth $2,813,000 after purchasing an additional 10,663 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

AMT has been the topic of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $144.00 target price on shares of American Tower Corporation (REIT) in a research note on Tuesday, September 12th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $153.00 target price on shares of American Tower Corporation (REIT) in a research note on Friday, September 1st. UBS AG lifted their target price on American Tower Corporation (REIT) from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, September 11th. BidaskClub upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Finally, Citigroup Inc. lifted their price target 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. Fourteen investment analysts have rated the stock with a buy rating, American Tower Corporation (REIT) has an average rating of “Buy” and a consensus price target of $148.58.

In related news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the company’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 directly owns 304,707 shares in the company, valued at approximately $44,453,704.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amit Sharma sold 20,747 shares of the company’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 transaction of $2,897,733.49. Following the sale, the executive vice president now owns 101,605 shares in the company, valued at $14,191,170.35. The disclosure for this sale can be found here. Insiders have sold a total of 80,295 shares of company stock worth $11,347,780 over the last 90 days. 0.86% of the stock is currently owned by corporate insiders.

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Shares of American Tower Corporation (AMT) opened at 137.78 on Friday. The firm has a market cap of $59.13 billion, a PE ratio of 55.11 and a beta of 0.70. The company’s 50-day moving average price is $142.16 and its 200-day moving average price is $131.01. 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 earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.75). The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. Equities analysts expect 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 will be paid on Tuesday, October 17th. Investors 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 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, September 28th. American Tower Corporation (REIT)’s dividend payout ratio is presently 102.81%.

American Tower Corporation (REIT) Company 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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