GW&K Investment Management LLC Acquires New Stake in American Tower Corp. (AMT)

GW&K Investment Management LLC acquired a new stake in shares of American Tower Corp. (NYSE:AMT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 91,598 shares of the real estate investment trust’s stock, valued at approximately $10,381,000.

Several other large investors have also bought and sold shares of AMT. Vanguard Group Inc. boosted its stake in American Tower Corp. by 1.7% in the second quarter. Vanguard Group Inc. now owns 25,767,548 shares of the real estate investment trust’s stock valued at $2,927,451,000 after buying an additional 441,783 shares in the last quarter. Standard Life Investments LTD boosted its stake in American Tower Corp. by 5.6% in the second quarter. Standard Life Investments LTD now owns 4,467,595 shares of the real estate investment trust’s stock valued at $507,519,000 after buying an additional 238,684 shares in the last quarter. Cohen & Steers Inc. boosted its stake in American Tower Corp. by 50.7% in the second quarter. Cohen & Steers Inc. now owns 3,803,923 shares of the real estate investment trust’s stock valued at $77,904,000 after buying an additional 1,280,386 shares in the last quarter. Principal Financial Group Inc. boosted its stake in American Tower Corp. by 2.3% in the second quarter. Principal Financial Group Inc. now owns 2,428,981 shares of the real estate investment trust’s stock valued at $275,955,000 after buying an additional 54,483 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in American Tower Corp. by 7.8% in the second quarter. American Century Companies Inc. now owns 2,403,790 shares of the real estate investment trust’s stock valued at $273,095,000 after buying an additional 173,514 shares in the last quarter. 92.79% of the stock is owned by institutional investors.

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

American Tower Corp. (NYSE:AMT) opened at 102.91 on Friday. The company has a market cap of $43.81 billion, a PE ratio of 51.51 and a beta of 0.63. The company has a 50-day moving average price of $108.52 and a 200 day moving average price of $111.39. American Tower Corp. has a 12-month low of $83.07 and a 12-month high of $118.26.

American Tower Corp. (NYSE:AMT) last released its earnings results on Thursday, October 27th. The real estate investment trust reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm earned $1.52 billion during the quarter, compared to the consensus estimate of $1.51 billion. American Tower Corp. had a return on equity of 14.05% and a net margin of 17.37%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 EPS. On average, analysts forecast that American Tower Corp. will post $2.08 EPS for the current fiscal year.

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AMT has been the subject of several research reports. Zacks Investment Research raised American Tower Corp. from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Monday, November 14th. Stifel Nicolaus upped their target price on American Tower Corp. from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, October 31st. Deutsche Bank AG restated a “buy” rating and issued a $135.00 target price on shares of American Tower Corp. in a research note on Friday, November 4th. SunTrust Banks Inc. began coverage on American Tower Corp. in a research note on Monday, September 12th. They issued a “buy” rating and a $128.00 target price for the company. Finally, Jefferies Group restated a “buy” rating on shares of American Tower Corp. in a research note on Monday, August 29th. One investment analyst has rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. American Tower Corp. presently has an average rating of “Buy” and a consensus target price of $123.52.

In other news, Chairman James D. Taiclet, Jr. sold 40,625 shares of the business’s stock in a transaction on Monday, October 17th. The stock was sold at an average price of $113.45, for a total transaction of $4,608,906.25. Following the completion of the transaction, the chairman now owns 267,142 shares of the company’s stock, valued at approximately $30,307,259.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Samme L. Thompson sold 2,202 shares of the business’s stock in a transaction on Monday, October 24th. The stock was sold at an average price of $116.13, for a total value of $255,718.26. Following the transaction, the director now directly owns 16,063 shares of the company’s stock, valued at approximately $1,865,396.19. The disclosure for this sale can be found here. Insiders own 0.95% of the company’s stock.

American Tower Corp. Company Profile

American Tower Corporation is a holding company. The company owns, operates and develops wireless and broadcast communications real estate. Its primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities.

5 Day Chart for NYSE:AMT

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