American Tower Corporation (REIT) (NYSE:AMT) Shares Sold by Princeton Capital Management Inc.

Princeton Capital Management Inc. cut its position in American Tower Corporation (REIT) (NYSE:AMT) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,374 shares of the real estate investment trust’s stock after selling 1,281 shares during the period. American Tower Corporation (REIT) makes up 4.3% of Princeton Capital Management Inc.’s investment portfolio, making the stock its 3rd largest position. Princeton Capital Management Inc.’s holdings in American Tower Corporation (REIT) were worth $6,797,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AMT. Heritage Investors Management Corp increased its position in American Tower Corporation (REIT) by 84.0% in the first quarter. Heritage Investors Management Corp now owns 20,310 shares of the real estate investment trust’s stock worth $2,468,000 after buying an additional 9,270 shares during the period. Doyle Wealth Management bought a new position in American Tower Corporation (REIT) during the first quarter worth $1,039,000. Iowa State Bank increased its position in American Tower Corporation (REIT) by 16.6% in the first quarter. Iowa State Bank now owns 11,106 shares of the real estate investment trust’s stock worth $1,350,000 after buying an additional 1,580 shares during the period. Norway Savings Bank increased its position in 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 worth $174,000 after buying an additional 660 shares during the period. Finally, Cornerstone Financial Partners LLC acquired a new position in American Tower Corporation (REIT) during the first quarter valued at approximately $203,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

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

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

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

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Several research firms have commented on AMT. Cowen and Company reissued a “buy” rating and set a $155.00 target price on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Citigroup Inc. downgraded shares of American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 target price on the stock. in a research report on Monday, June 12th. BidaskClub downgraded shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. reissued an “outperform” rating on shares of American Tower Corporation (REIT) in a research report on Monday, June 12th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $142.67.

In other American Tower Corporation (REIT) news, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director David E. Sharbutt sold 3,653 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were 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 directly owns 10,098 shares of the company’s stock, valued at approximately $1,298,703.78. The disclosure for this sale can be found here. 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.

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

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