State of New Jersey Common Pension Fund D Has $86.07 Million Stake in American Tower Corporation (REIT) (NYSE:AMT)

State of New Jersey Common Pension Fund D lowered its position in American Tower Corporation (REIT) (NYSE:AMT) by 3.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 650,500 shares of the real estate investment trust’s stock after selling 20,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.15% of American Tower Corporation (REIT) worth $86,074,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Alexandria Capital LLC raised its stake in American Tower Corporation (REIT) by 0.5% in the second quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 4 shares during the last quarter. Heritage Trust Co acquired a new stake in American Tower Corporation (REIT) during the first quarter worth about $122,000. Webster Bank N. A. raised its stake in 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 worth $122,000 after buying an additional 465 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in American Tower Corporation (REIT) by 72.6% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,189 shares of the real estate investment trust’s stock worth $157,000 after buying an additional 500 shares during the last quarter. Finally, Cornerstone Advisors Inc. raised its stake in American Tower Corporation (REIT) by 1.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 15 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

Shares of American Tower Corporation (NYSE:AMT) traded up 0.25% on Friday, reaching $140.00. 1,114,278 shares of the company’s stock traded hands. American Tower Corporation has a 52 week low of $99.72 and a 52 week high of $141.51. The stock’s 50-day moving average price is $136.09 and its 200-day moving average price is $125.24. The stock has a market capitalization of $60.08 billion, a price-to-earnings ratio of 56.00 and a beta of 0.71.

American Tower Corporation (REIT) (NYSE:AMT) last issued its earnings results 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. American Tower Corporation (REIT) had a return on equity of 16.70% and a net margin of 18.58%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts predict that American Tower Corporation will post $3.02 EPS for the current year.

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A number of equities research analysts have recently issued reports on the stock. 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 for the company in a report on Thursday, August 3rd. Argus upped their target price on shares of American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. BidaskClub lowered shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cowen and Company reissued a “buy” rating and issued a $155.00 price objective on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Finally, Deutsche Bank AG upped their price objective on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the company a “buy” rating in a report on Friday, July 14th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $142.67.

In other news, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction dated 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 at this hyperlink. 0.86% of the stock is currently owned by insiders.

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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