Toronto Dominion Bank lowered its holdings in shares of American Tower Corp (NYSE:AMT) by 19.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 350,786 shares of the real estate investment trust’s stock after selling 86,956 shares during the quarter. Toronto Dominion Bank owned approximately 0.08% of American Tower worth $71,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cable Hill Partners LLC raised its position in American Tower by 61.9% in the first quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 52 shares during the period. Nelson Roberts Investment Advisors LLC bought a new position in American Tower in the 2nd quarter worth $27,000. Next Capital Management LLC purchased a new position in American Tower during the second quarter valued at $31,000. CX Institutional grew its holdings in American Tower by 54.9% during the second quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 56 shares during the period. Finally, Litman Gregory Asset Management LLC bought a new stake in American Tower during the second quarter valued at about $33,000. 92.56% of the stock is owned by hedge funds and other institutional investors.

AMT has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. KeyCorp boosted their price objective on American Tower from $225.00 to $253.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. SunTrust Banks increased their target price on shares of American Tower to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Citigroup raised their target price on shares of American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price target on the stock in a report on Tuesday, August 20th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $205.87.

Shares of American Tower stock traded down $2.18 on Wednesday, hitting $214.04. 1,800,398 shares of the company traded hands, compared to its average volume of 1,600,885. The stock has a market capitalization of $99.16 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 1.82 and a beta of 0.47. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.49 and a current ratio of 0.49. American Tower Corp has a 52 week low of $140.40 and a 52 week high of $242.00. The business has a 50-day simple moving average of $221.75 and a 200 day simple moving average of $204.26.

American Tower (NYSE:AMT) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.96 EPS for the quarter, missing the consensus estimate of $1.87 by ($0.91). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.83 billion. American Tower had a return on equity of 24.75% and a net margin of 19.30%. American Tower’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.74 EPS. Research analysts expect that American Tower Corp will post 7.67 earnings per share for the current year.

In related news, Director Pamela D. A. Reeve sold 4,167 shares of American Tower stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $240.80, for a total value of $1,003,413.60. Following the completion of the transaction, the director now owns 19,139 shares in the company, valued at $4,608,671.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Craig Macnab sold 5,953 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $225.46, for a total value of $1,342,163.38. Following the sale, the director now directly owns 14,341 shares in the company, valued at $3,233,321.86. The disclosure for this sale can be found here. Insiders sold 135,354 shares of company stock worth $28,232,160 over the last quarter. 0.75% of the stock is owned by company insiders.

American Tower Company Profile

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 approximately 171,000 communications sites.

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

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