Comerica Securities Inc. Buys Shares of 1,944 American Tower Corporation (REIT) (AMT)

Comerica Securities Inc. bought a new position in American Tower Corporation (REIT) (NYSE:AMT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,944 shares of the real estate investment trust’s stock, valued at approximately $258,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of American Tower Corporation (REIT) by 3.8% in the first quarter. Vanguard Group Inc. now owns 27,561,482 shares of the real estate investment trust’s stock worth $3,349,823,000 after buying an additional 1,008,946 shares during the last quarter. Wellington Management Group LLP boosted its stake 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 last quarter. Edgewood Management LLC boosted its stake in shares of American Tower Corporation (REIT) by 2.6% in the first quarter. Edgewood Management LLC now owns 5,925,839 shares of the real estate investment trust’s stock worth $720,226,000 after buying an additional 151,527 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of American Tower Corporation (REIT) by 8.7% in the first quarter. Geode Capital Management LLC now owns 3,789,461 shares of the real estate investment trust’s stock worth $459,850,000 after buying an additional 303,425 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of American Tower Corporation (REIT) by 5.6% in the second quarter. Principal Financial Group Inc. now owns 2,997,688 shares of the real estate investment trust’s stock worth $396,655,000 after buying an additional 158,938 shares during the last quarter. Hedge funds and other institutional investors own 92.09% of the company’s stock.

American Tower Corporation (NYSE AMT) opened at 145.01 on Friday. American Tower Corporation has a one year low of $99.72 and a one year high of $148.71. The firm’s 50 day moving average price is $141.85 and its 200-day moving average price is $130.37. The firm has a market cap of $62.23 billion, a PE ratio of 58.00 and a beta of 0.70.

American Tower Corporation (REIT) (NYSE:AMT) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share 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 business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the firm posted $1.38 EPS. American Tower Corporation (REIT)’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 fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, September 29th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Thursday, September 28th. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s payout ratio is currently 102.81%.

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In other news, Director Pamela D. A. Reeve sold 5,000 shares of the business’s stock in a transaction that occurred 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 owns 17,758 shares of the company’s stock, valued at approximately $2,548,095.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amit Sharma sold 20,747 shares of the business’s stock in a transaction that occurred 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 directly owns 101,605 shares in the company, valued at approximately $14,191,170.35. The disclosure for this sale can be found here. Insiders sold a total of 80,295 shares of company stock worth $11,347,780 in the last ninety days. 0.86% of the stock is owned by corporate insiders.

AMT has been the topic of a number of recent research reports. Citigroup Inc. upped their target price on American Tower Corporation (REIT) from $142.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $153.00 price target on shares of American Tower Corporation (REIT) in a report on Friday, September 1st. BidaskClub raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Zacks Investment Research cut American Tower Corporation (REIT) from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $155.00 price target on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Thirteen equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $148.58.

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.

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

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