State Treasurer State of Michigan Has $18.49 Million Stake in American Tower Corporation (REIT) (NYSE:AMT)

State Treasurer State of Michigan lowered its position in shares of American Tower Corporation (REIT) (NYSE:AMT) by 0.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 139,726 shares of the real estate investment trust’s stock after selling 600 shares during the period. State Treasurer State of Michigan’s holdings in American Tower Corporation (REIT) were worth $18,489,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMT. Highland Capital Management LLC acquired a new position in American Tower Corporation (REIT) during the second quarter worth approximately $1,009,000. Rehmann Capital Advisory Group raised its position in American Tower Corporation (REIT) by 21.5% in the second quarter. Rehmann Capital Advisory Group now owns 2,474 shares of the real estate investment trust’s stock worth $327,000 after buying an additional 437 shares in the last quarter. Aperio Group LLC raised its position in American Tower Corporation (REIT) by 15.1% in the second quarter. Aperio Group LLC now owns 222,642 shares of the real estate investment trust’s stock worth $29,460,000 after buying an additional 29,236 shares in the last quarter. Wendell David Associates Inc. raised its position in American Tower Corporation (REIT) by 3.3% in the second quarter. Wendell David Associates Inc. now owns 32,888 shares of the real estate investment trust’s stock worth $4,352,000 after buying an additional 1,053 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in American Tower Corporation (REIT) by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the real estate investment trust’s stock worth $3,493,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

American Tower Corporation (NYSE AMT) traded up 0.25% during trading on Friday, reaching $140.00. The company’s stock had a trading volume of 1,114,278 shares. The company has a market cap of $60.08 billion, a price-to-earnings ratio of 56.00 and a beta of 0.71. American Tower Corporation has a 12 month low of $99.72 and a 12 month high of $141.51. The stock’s 50 day moving average is $136.09 and its 200 day moving average is $125.24.

American Tower Corporation (REIT) (NYSE:AMT) last posted 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. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the company earned $1.38 EPS. The company’s revenue was up 15.3% on a year-over-year basis. On average, equities analysts expect that American Tower Corporation will post $3.02 EPS for the current fiscal year.

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AMT has been the topic of several research reports. Royal Bank Of Canada upped their price objective on American Tower Corporation (REIT) from $134.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a report on Thursday, May 4th. Citigroup Inc. downgraded American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price target for the company. in a report on Monday, June 12th. Raymond James Financial, Inc. restated an “outperform” rating on shares of American Tower Corporation (REIT) in a report on Monday, June 12th. Finally, BidaskClub downgraded American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $142.67.

In other news, EVP Steven C. Marshall sold 20,548 shares of the stock in a transaction 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 document filed with the SEC, which is accessible through this hyperlink. 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.

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

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