NN Investment Partners Holdings N.V. Increases Position in American Tower Corporation (REIT) (NYSE:AMT)

NN Investment Partners Holdings N.V. increased its stake in shares of American Tower Corporation (REIT) (NYSE:AMT) by 92.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,517 shares of the real estate investment trust’s stock after buying an additional 13,195 shares during the period. NN Investment Partners Holdings N.V.’s holdings in American Tower Corporation (REIT) were worth $3,641,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Heritage Trust Co purchased a new position in shares of American Tower Corporation (REIT) during the first quarter valued at approximately $122,000. Webster Bank N. A. raised its position in shares of American Tower Corporation (REIT) by 86.1% in the first quarter. Webster Bank N. A. now owns 1,005 shares of the real estate investment trust’s stock valued at $122,000 after buying an additional 465 shares during the last quarter. Norway Savings Bank raised its position in shares of American Tower Corporation (REIT) by 85.2% in the first quarter. Norway Savings Bank now owns 1,435 shares of the real estate investment trust’s stock valued at $174,000 after buying an additional 660 shares during the last quarter. Integrated Investment Consultants LLC raised its position in shares of 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 valued at $180,000 after buying an additional 13 shares during the last quarter. Finally, Park National Corp OH bought a new position in American Tower Corporation (REIT) during the second quarter worth about $210,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Shares of American Tower Corporation (AMT) opened at 136.68 on Friday. The firm has a market cap of $58.66 billion, a PE ratio of 54.67 and a beta of 0.71. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $139.50. The firm has a 50 day moving average price of $135.15 and a 200-day moving average price of $123.95.

American Tower Corporation (REIT) (NYSE:AMT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by $0.75. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the company earned $1.38 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. On average, analysts predict that American Tower Corporation will post $3.02 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, June 19th were paid a dividend of $0.64 per share. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Thursday, June 15th. American Tower Corporation (REIT)’s dividend payout ratio is presently 102.81%.

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A number of research analysts recently issued reports on AMT shares. Zacks Investment Research raised American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 target price on the stock in a research note on Thursday, July 27th. Deutsche Bank AG lifted their target price on American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, July 14th. Royal Bank Of Canada boosted their price objective on American Tower Corporation (REIT) from $134.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Argus boosted their price objective on American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $150.00 price objective on shares of American Tower Corporation (REIT) in a research note on Thursday, July 6th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. American Tower Corporation (REIT) currently has an average rating of “Buy” and an average price target of $142.67.

In other American Tower Corporation (REIT) news, EVP Steven C. Marshall sold 20,548 shares of the stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David E. Sharbutt sold 3,653 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $128.61, for a total transaction of $469,812.33. Following the completion of the sale, the director now owns 10,098 shares in the company, valued at $1,298,703.78. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.

About American Tower Corporation (REIT)

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.

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

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