National Pension Service Boosts Position in American Tower Corp. (AMT)
National Pension Service boosted its position in American Tower Corp. (NYSE:AMT) by 8.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,785 shares of the real estate investment trust’s stock after buying an additional 22,754 shares during the period. National Pension Service’s holdings in American Tower Corp. were worth $32,161,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Analysts LLC raised its position in American Tower Corp. by 158.1% in the second quarter. Capital Analysts LLC now owns 2,395 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 1,467 shares during the last quarter. Financial Architects Inc raised its position in American Tower Corp. by 15.5% in the second quarter. Financial Architects Inc now owns 1,289 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 173 shares during the last quarter. Kernodle & Katon Asset Management Group LLC raised its position in American Tower Corp. by 3.3% in the second quarter. Kernodle & Katon Asset Management Group LLC now owns 1,474 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 47 shares during the last quarter. WFG Advisors LP raised its position in American Tower Corp. by 1.2% in the second quarter. WFG Advisors LP now owns 1,473 shares of the real estate investment trust’s stock worth $167,000 after buying an additional 18 shares during the last quarter. Finally, PineBridge Investments L.P. purchased a new position in American Tower Corp. during the second quarter worth about $173,000. 92.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of American Tower Corp. (NYSE:AMT) traded up 0.36% during midday trading on Tuesday, hitting $106.49. The stock had a trading volume of 202,547 shares. American Tower Corp. has a one year low of $83.07 and a one year high of $118.26. The company has a market capitalization of $45.33 billion, a PE ratio of 53.30 and a beta of 0.69. The firm’s 50-day moving average is $111.13 and its 200 day moving average is $111.64.
American Tower Corp. (NYSE:AMT) last announced its quarterly earnings results on Thursday, October 27th. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. American Tower Corp. had a return on equity of 14.05% and a net margin of 17.37%. The company earned $1.52 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the company earned $1.31 earnings per share. The company’s revenue for the quarter was up 22.4% compared to the same quarter last year. Equities analysts expect that American Tower Corp. will post $5.73 earnings per share for the current fiscal year.
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A number of research analysts recently issued reports on the company. Argus lifted their target price on American Tower Corp. from $120.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Jefferies Group reissued a “buy” rating on shares of American Tower Corp. in a research note on Monday, September 12th. Zacks Investment Research cut American Tower Corp. from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Citigroup Inc. dropped their price target on American Tower Corp. from $134.00 to $133.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Finally, SunTrust Banks Inc. assumed coverage on American Tower Corp. in a research note on Monday, September 12th. They issued a “buy” rating and a $128.00 price target on the stock. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $123.44.
In related news, Chairman James D. Taiclet, Jr. sold 40,625 shares of the stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $113.45, for a total transaction of $4,608,906.25. Following the completion of the transaction, the chairman now directly owns 267,142 shares in the company, valued at $30,307,259.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carolyn Katz sold 5,000 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $116.34, for a total value of $581,700.00. Following the transaction, the director now owns 14,484 shares of the company’s stock, valued at $1,685,068.56. The disclosure for this sale can be found here. 0.95% of the stock is owned by company insiders.
American Tower Corp. Company Profile
American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.
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