Northwestern Mutual Wealth Management Co. Has $1.49 Million Holdings in American Tower Corporation (REIT) (AMT)

Northwestern Mutual Wealth Management Co. reduced its position in shares of American Tower Corporation (REIT) (NYSE:AMT) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,237 shares of the real estate investment trust’s stock after selling 877 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in American Tower Corporation (REIT) were worth $1,487,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. raised its position in American Tower Corporation (REIT) by 33.0% during the second quarter. Oppenheimer & Co. Inc. now owns 81,470 shares of the real estate investment trust’s stock worth $10,780,000 after acquiring an additional 20,222 shares in the last quarter. Acadian Asset Management LLC raised its position in American Tower Corporation (REIT) by 296.4% during the first quarter. Acadian Asset Management LLC now owns 4,761 shares of the real estate investment trust’s stock worth $579,000 after acquiring an additional 3,560 shares in the last quarter. Telos Capital Management Inc. raised its position in American Tower Corporation (REIT) by 17.0% during 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 acquiring an additional 1,897 shares in the last quarter. Wellington Management Group LLP raised its position in American Tower Corporation (REIT) by 8.4% during 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 acquiring an additional 1,679,615 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its position in American Tower Corporation (REIT) by 9.7% during the second quarter. State of Tennessee Treasury Department now owns 349,736 shares of the real estate investment trust’s stock worth $46,277,000 after acquiring an additional 30,885 shares in the last quarter. 92.09% of the stock is currently owned by hedge funds and other institutional investors.

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Several analysts have issued reports on AMT shares. BidaskClub lowered 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 price target on the stock in a research report on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $144.00 price target on shares of American Tower Corporation (REIT) in a research report on Tuesday. Cowen and Company reaffirmed a “buy” rating and set a $155.00 price target on shares of American Tower Corporation (REIT) in a research report on Wednesday, July 19th. Finally, Deutsche Bank AG upped their price target on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Fourteen analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $147.00.

In other news, Director Pamela D. A. Reeve sold 5,000 shares of American Tower Corporation (REIT) stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $143.49, for a total transaction of $717,450.00. Following the sale, the director now directly owns 17,758 shares in the company, valued at approximately $2,548,095.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amit Sharma sold 20,747 shares of American Tower Corporation (REIT) stock in a transaction on Friday, August 18th. The stock was sold at an average price of $139.67, for a total value of $2,897,733.49. Following the sale, the executive vice president now owns 101,605 shares in the company, valued at $14,191,170.35. The disclosure for this sale can be found here. Insiders have sold a total of 46,295 shares of company stock worth $6,387,520 over the last quarter. Company insiders own 0.86% of the company’s stock.

American Tower Corporation (AMT) opened at 145.86 on Tuesday. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $148.71. The company has a 50 day moving average of $140.84 and a 200 day moving average of $129.60. The firm has a market capitalization of $62.60 billion, a P/E ratio of 58.34 and a beta of 0.70.

American Tower Corporation (REIT) (NYSE:AMT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $1.55 by $0.75. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.38 earnings per share. On average, equities research analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current year.

American Tower Corporation (REIT) 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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