Princeton Portfolio Strategies Group LLC lowered its position in American Tower Corp (NYSE:AMT) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,462 shares of the real estate investment trust’s stock after selling 1,753 shares during the quarter. American Tower accounts for approximately 2.1% of Princeton Portfolio Strategies Group LLC’s holdings, making the stock its 12th biggest holding. Princeton Portfolio Strategies Group LLC’s holdings in American Tower were worth $7,419,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Edgewood Management LLC boosted its stake in shares of American Tower by 3.7% during the first quarter. Edgewood Management LLC now owns 6,673,513 shares of the real estate investment trust’s stock valued at $969,928,000 after acquiring an additional 237,870 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of American Tower by 50.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,318,298 shares of the real estate investment trust’s stock valued at $772,961,000 after acquiring an additional 1,782,280 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of American Tower by 7.6% during the second quarter. Bank of New York Mellon Corp now owns 4,414,223 shares of the real estate investment trust’s stock valued at $636,400,000 after acquiring an additional 312,126 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of American Tower by 12.6% during the first quarter. Principal Financial Group Inc. now owns 3,595,781 shares of the real estate investment trust’s stock valued at $522,610,000 after acquiring an additional 402,859 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of American Tower by 0.7% during the first quarter. American Century Companies Inc. now owns 3,269,826 shares of the real estate investment trust’s stock valued at $475,237,000 after acquiring an additional 21,594 shares during the last quarter. Institutional investors and hedge funds own 92.20% of the company’s stock.

A number of analysts recently commented on AMT shares. Zacks Investment Research lowered American Tower from a “hold” rating to a “sell” rating in a research note on Friday, April 20th. ValuEngine lowered American Tower from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. Morgan Stanley decreased their price objective on American Tower from $157.00 to $154.00 and set an “overweight” rating on the stock in a research note on Thursday, May 31st. Wells Fargo & Co increased their price objective on American Tower from $150.00 to $158.00 and gave the company an “outperform” rating in a research note on Tuesday, July 3rd. Finally, Raymond James lowered American Tower from an “outperform” rating to a “market perform” rating in a research note on Monday, July 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $161.94.

In other American Tower news, Director David E. Sharbutt sold 1,321 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $150.48, for a total value of $198,784.08. Following the sale, the director now directly owns 4,781 shares of the company’s stock, valued at approximately $719,444.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Pamela D. A. Reeve sold 7,152 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $148.92, for a total value of $1,065,075.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 198,810 shares of company stock worth $28,393,839. 0.87% of the stock is owned by corporate insiders.

Shares of NYSE:AMT opened at $149.72 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.99. American Tower Corp has a 12-month low of $130.37 and a 12-month high of $155.28. The stock has a market capitalization of $65.76 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 1.59 and a beta of 0.83.

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

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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