Peddock Capital Advisors LLC Invests $119,000 in American Tower Corporation (REIT) (AMT)

Peddock Capital Advisors LLC purchased a new position in American Tower Corporation (REIT) (NYSE:AMT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 900 shares of the real estate investment trust’s stock, valued at approximately $119,000.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC increased its position in shares of American Tower Corporation (REIT) by 296.4% in the first quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock worth $579,000 after buying an additional 3,560 shares during the period. Janney Montgomery Scott LLC increased its position in shares of American Tower Corporation (REIT) by 19.9% in the first quarter. Janney Montgomery Scott LLC now owns 43,143 shares of the real estate investment trust’s stock worth $5,244,000 after buying an additional 7,152 shares during the period. Telos Capital Management Inc. increased its position in shares of American Tower Corporation (REIT) by 17.0% in the first quarter. Telos Capital Management Inc. now owns 13,033 shares of the real estate investment trust’s stock worth $1,584,000 after buying an additional 1,897 shares during the period. Wellington Management Group LLP increased its position in shares of American Tower Corporation (REIT) by 8.4% in the first quarter. Wellington Management Group LLP now owns 21,788,278 shares of the real estate investment trust’s stock worth $2,648,146,000 after buying an additional 1,679,615 shares during the period. Finally, Israel Discount Bank of New York bought a new position in shares of American Tower Corporation (REIT) during the first quarter worth $640,000. 92.36% of the stock is currently owned by institutional investors.

Shares of American Tower Corporation (NYSE AMT) opened at 141.28 on Tuesday. The company has a market capitalization of $60.63 billion, a PE ratio of 56.51 and a beta of 0.71. The stock’s 50 day moving average price is $136.35 and its 200 day moving average price is $125.83. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $141.51.

American Tower Corporation (REIT) (NYSE:AMT) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.55 by $0.75. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.38 earnings per share. On average, analysts forecast that American Tower Corporation will post $3.02 EPS for the current year.

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AMT has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 price target on the stock in a report on Thursday, July 27th. Deutsche Bank AG boosted their price objective 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 company 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 company a “buy” rating in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus restated 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 investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $142.67.

In related news, EVP Steven C. Marshall sold 20,548 shares of the company’s stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total transaction of $2,772,336.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.

American Tower Corporation (REIT) Company Profile

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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