Cambridge Investment Research Advisors Inc. Has $9.99 Million Holdings in American Tower Co. (NYSE:AMT)

Cambridge Investment Research Advisors Inc. decreased its position in shares of American Tower Co. (NYSE:AMTGet Rating) by 3.7% in the second quarter, Holdings Channel reports. The fund owned 39,082 shares of the real estate investment trust’s stock after selling 1,516 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in American Tower were worth $9,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMT. Pinnacle Holdings LLC acquired a new position in American Tower during the 1st quarter worth $29,000. Financial Management Professionals Inc. lifted its position in American Tower by 63.5% during the 2nd quarter. Financial Management Professionals Inc. now owns 121 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 47 shares during the last quarter. Rational Advisors LLC lifted its position in American Tower by 70.2% during the 1st quarter. Rational Advisors LLC now owns 143 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 59 shares during the last quarter. IAG Wealth Partners LLC lifted its position in American Tower by 84.5% during the 4th quarter. IAG Wealth Partners LLC now owns 131 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 60 shares during the last quarter. Finally, MCF Advisors LLC acquired a new position in American Tower during the 1st quarter worth $38,000. Institutional investors and hedge funds own 91.03% of the company’s stock.

Insiders Place Their Bets

In other American Tower news, Director Robert D. Hormats sold 150 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $254.53, for a total transaction of $38,179.50. Following the sale, the director now directly owns 6,571 shares of the company’s stock, valued at $1,672,516.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AMT shares. Bank of America started coverage on shares of American Tower in a report on Sunday, June 5th. They set a “buy” rating and a $315.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of American Tower from $282.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of American Tower from $260.00 to $270.00 and gave the stock a “hold” rating in a report on Thursday, July 14th. Barclays boosted their price objective on shares of American Tower from $284.00 to $290.00 and gave the stock an “overweight” rating in a report on Friday, August 26th. Finally, Jefferies Financial Group dropped their price objective on shares of American Tower from $308.00 to $293.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $291.29.

American Tower Price Performance

Shares of American Tower stock opened at $232.78 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 3.47. The stock has a market capitalization of $108.38 billion, a price-to-earnings ratio of 38.29, a P/E/G ratio of 2.13 and a beta of 0.48. American Tower Co. has a 1-year low of $220.00 and a 1-year high of $294.40. The firm’s 50-day moving average price is $261.27 and its two-hundred day moving average price is $253.48.

American Tower (NYSE:AMTGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $1.95 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.99. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.64 billion. American Tower had a net margin of 27.23% and a return on equity of 28.93%. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 earnings per share. On average, equities analysts predict that American Tower Co. will post 9.49 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Tuesday, October 11th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 2.53%. This is a boost from American Tower’s previous quarterly dividend of $1.43. American Tower’s dividend payout ratio is currently 94.08%.

About American Tower

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American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

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

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