Fulton Bank N.A. Invests $215,000 in American Tower Corporation (REIT) (AMT)

Fulton Bank N.A. acquired a new stake in shares of American Tower Corporation (REIT) (NYSE:AMT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,625 shares of the real estate investment trust’s stock, valued at approximately $215,000.

Other institutional investors have also added to or reduced their stakes in the company. Webster Bank N. A. boosted its position 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 valued at $122,000 after buying an additional 465 shares during the period. Heritage Trust Co acquired a new position in American Tower Corporation (REIT) during the first quarter valued at about $122,000. Norway Savings Bank boosted 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 valued at $174,000 after buying an additional 660 shares during the period. Integrated Investment Consultants LLC boosted its position in American Tower Corporation (REIT) by 0.9% in the first quarter. Integrated Investment Consultants LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 13 shares during the period. Finally, Spinnaker Trust acquired a new position in American Tower Corporation (REIT) during the first quarter valued at about $201,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

American Tower Corporation (NYSE:AMT) traded up 0.25% during midday trading on Friday, hitting $140.00. The stock had a trading volume of 1,114,278 shares. The firm has a 50-day moving average of $136.09 and a 200 day moving average of $125.24. American Tower Corporation has a 52-week low of $99.72 and a 52-week high of $141.51. The firm has a market capitalization of $60.08 billion, a P/E ratio of 56.00 and a beta of 0.71.

American Tower Corporation (REIT) (NYSE:AMT) last released 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. 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 during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the firm posted $1.38 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities analysts forecast that American Tower Corporation will post $3.02 EPS for the current year.

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Several equities analysts recently issued reports on the company. Zacks Investment Research cut American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of American Tower Corporation (REIT) in a research note on Monday, June 12th. Royal Bank Of Canada boosted their target price on shares of 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. Citigroup Inc. lowered shares of American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 target price for the company. in a research note on Monday, June 12th. Finally, BidaskClub lowered shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $142.67.

In other American Tower Corporation (REIT) news, EVP Steven C. Marshall sold 20,548 shares of American Tower Corporation (REIT) 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 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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