San Francisco Sentry Investment Group CA reduced its holdings in shares of American Tower Corp (NYSE:AMT) by 47.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,045 shares of the real estate investment trust’s stock after selling 7,124 shares during the quarter. San Francisco Sentry Investment Group CA’s holdings in American Tower were worth $1,160,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in American Tower by 2.4% during the second quarter. Rhumbline Advisers now owns 852,856 shares of the real estate investment trust’s stock worth $122,956,000 after buying an additional 20,188 shares during the period. Cypress Wealth Services LLC purchased a new stake in American Tower during the second quarter worth approximately $275,000. Nomura Asset Management Co. Ltd. grew its stake in American Tower by 1.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 62,029 shares of the real estate investment trust’s stock worth $8,942,000 after buying an additional 1,129 shares during the period. Cobblestone Capital Advisors LLC NY grew its stake in American Tower by 6.2% during the second quarter. Cobblestone Capital Advisors LLC NY now owns 71,321 shares of the real estate investment trust’s stock worth $10,282,000 after buying an additional 4,192 shares during the period. Finally, Brightworth grew its stake in American Tower by 3.3% during the second quarter. Brightworth now owns 47,579 shares of the real estate investment trust’s stock worth $6,859,000 after buying an additional 1,541 shares during the period. Institutional investors own 92.16% of the company’s stock.

Several research analysts have recently weighed in on the stock. Guggenheim restated a “hold” rating and issued a $160.00 target price on shares of American Tower in a research note on Tuesday, August 7th. Oppenheimer upped their target price on shares of American Tower from $167.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, August 1st. Cowen restated a “buy” rating and issued a $161.00 target price on shares of American Tower in a research note on Wednesday, August 1st. Deutsche Bank upped their target price on shares of American Tower from $155.00 to $169.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, SunTrust Banks restated a “buy” rating and issued a $167.00 target price on shares of American Tower in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $161.56.

In related news, Chairman James D. Taiclet, Jr. sold 43,843 shares of the company’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $138.92, for a total value of $6,090,669.56. Following the sale, the chairman now directly owns 223,227 shares of the company’s stock, valued at $31,010,694.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David E. Sharbutt sold 1,321 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $150.48, for a total transaction of $198,784.08. Following the completion of the sale, the director now directly owns 4,781 shares in the company, valued at $719,444.88. The disclosure for this sale can be found here. Insiders sold 191,658 shares of company stock worth $27,328,763 over the last ninety days. 0.87% of the stock is currently owned by corporate insiders.

AMT opened at $149.18 on Friday. The firm has a market capitalization of $66.38 billion, a P/E ratio of 23.38, a P/E/G ratio of 1.60 and a beta of 0.83. The company has a debt-to-equity ratio of 2.99, a quick ratio of 0.66 and a current ratio of 0.66. American Tower Corp has a 12-month low of $130.37 and a 12-month high of $155.28.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.04). The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.75 billion. American Tower had a net margin of 16.34% and a return on equity of 16.72%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 earnings per share. equities research analysts anticipate that American Tower Corp will post 7.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 13th. Investors of record on Tuesday, June 19th were issued a $0.77 dividend. The ex-dividend date was Monday, June 18th. This is a boost from American Tower’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 2.06%. American Tower’s dividend payout ratio is currently 48.28%.

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 160,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.

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

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