Jacobus Wealth Management Inc. maintained its stake in American Tower Corporation (REIT) (NYSE:AMT) during the first quarter, Holdings Channel reports. The firm owned 3,335 shares of the real estate investment trust’s stock at the end of the first quarter. Jacobus Wealth Management Inc.’s holdings in American Tower Corporation (REIT) were worth $405,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC increased its stake in American Tower Corporation (REIT) by 0.9% in the first quarter. Integrated Investment Consultants LLC now owns 1,485 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 13 shares during the last quarter. iAB Financial Bank increased its stake in American Tower Corporation (REIT) by 1.8% in the first quarter. iAB Financial Bank now owns 2,035 shares of the real estate investment trust’s stock worth $247,000 after buying an additional 35 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its stake in American Tower Corporation (REIT) by 1.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 1,934 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 36 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in American Tower Corporation (REIT) by 1.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,425 shares of the real estate investment trust’s stock worth $416,000 after buying an additional 50 shares during the last quarter. Finally, Union Bankshares Corp increased its stake in American Tower Corporation (REIT) by 2.7% in the first quarter. Union Bankshares Corp now owns 2,102 shares of the real estate investment trust’s stock worth $255,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Institutional Ownership by Quarter for American Tower Corporation (REIT) (NYSE:AMT)

Shares of American Tower Corporation (NYSE:AMT) opened at 131.95 on Friday. American Tower Corporation has a one year low of $99.72 and a one year high of $137.12. The company has a 50-day moving average price of $129.42 and a 200 day moving average price of $115.75. The firm has a market capitalization of $56.08 billion, a P/E ratio of 63.71 and a beta of 0.73.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by $0.84. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.58 billion. American Tower Corporation (REIT) had a net margin of 16.32% and a return on equity of 14.26%. The firm’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 EPS. Analysts expect that American Tower Corporation will post $2.96 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Monday, June 19th will be issued a dividend of $0.64 per share. The ex-dividend date is Thursday, June 15th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.94%. This is an increase from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is currently 124.27%.

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A number of research firms have recently commented on AMT. Citigroup Inc. downgraded American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price objective for the company. in a report on Monday, June 12th. BidaskClub downgraded American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Tuesday. Raymond James Financial, Inc. restated an “outperform” rating on shares of American Tower Corporation (REIT) in a report on Monday, June 12th. Guggenheim upgraded American Tower Corporation (REIT) from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $117.00 to $135.00 in a report on Monday, April 10th. Finally, Jefferies Group LLC restated a “buy” rating and set a $136.00 price objective on shares of American Tower Corporation (REIT) in a report on Monday, April 3rd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $135.83.

In other news, Director David E. Sharbutt sold 3,653 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $128.61, for a total transaction of $469,812.33. Following the transaction, the director now owns 10,098 shares in the company, valued at approximately $1,298,703.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William H. Hess sold 90,489 shares of the firm’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $120.96, for a total transaction of $10,945,549.44. Following the transaction, the executive vice president now owns 126,987 shares in the company, valued at approximately $15,360,347.52. The disclosure for this sale can be found here. Insiders have sold a total of 233,291 shares of company stock worth $28,816,053 in the last 90 days. 0.95% of the stock is owned by insiders.

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.

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