Mosaic Family Wealth LLC Maintains Position in American Tower Corporation (REIT) (AMT)

Mosaic Family Wealth LLC maintained its stake in shares of American Tower Corporation (REIT) (NYSE:AMT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,815 shares of the real estate investment trust’s stock at the end of the first quarter. Mosaic Family Wealth LLC’s holdings in American Tower Corporation (REIT) were worth $221,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. First Personal Financial Services boosted its position in shares of American Tower Corporation (REIT) by 8.1% in the first quarter. First Personal Financial Services now owns 2,680 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 200 shares during the last quarter. Symphony Asset Management LLC boosted its position in shares of American Tower Corporation (REIT) by 30.9% in the first quarter. Symphony Asset Management LLC now owns 17,064 shares of the real estate investment trust’s stock valued at $2,074,000 after buying an additional 4,032 shares during the last quarter. Joel Isaacson & Co. LLC bought a new position in shares of American Tower Corporation (REIT) during the first quarter valued at $682,000. Wedbush Securities Inc. boosted its position in American Tower Corporation (REIT) by 11.8% in the first quarter. Wedbush Securities Inc. now owns 2,840 shares of the real estate investment trust’s stock worth $345,000 after buying an additional 299 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC boosted its position in American Tower Corporation (REIT) by 3.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,687 shares of the real estate investment trust’s stock worth $727,000 after buying an additional 170 shares during the last quarter. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

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

American Tower Corporation (AMT) traded up 0.20% during mid-day trading on Thursday, reaching $130.87. 1,273,687 shares of the company’s stock traded hands. American Tower Corporation has a 12-month low of $99.72 and a 12-month high of $137.12. The company has a market cap of $55.62 billion, a P/E ratio of 63.19 and a beta of 0.73. The stock has a 50 day moving average of $129.71 and a 200 day moving average of $116.36.

American Tower Corporation (REIT) (NYSE:AMT) last issued its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by $0.84. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.58 billion. American Tower Corporation (REIT) had a net margin of 16.32% and a return on equity of 14.26%. The firm’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.58 earnings per share. On average, equities research analysts predict that American Tower Corporation will post $2.96 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Monday, June 19th will be paid a dividend of $0.64 per share. The ex-dividend date is Thursday, June 15th. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.62. This represents a $2.56 dividend on an annualized basis and a yield of 1.96%. American Tower Corporation (REIT)’s dividend payout ratio is 124.27%.

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A number of research firms have recently weighed in on AMT. Citigroup Inc. downgraded shares of American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price target for the company. in a research report on Monday, June 12th. BidaskClub downgraded shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of American Tower Corporation (REIT) in a research note on Monday, June 12th. Guggenheim raised shares of American Tower Corporation (REIT) from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $117.00 to $135.00 in a research note on Monday, April 10th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $136.00 price objective on shares of American Tower Corporation (REIT) in a research note on Monday, April 3rd. Twelve analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $135.83.

In other news, EVP Amit Sharma sold 61,096 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $126.57, for a total transaction of $7,732,920.72. Following the completion of the transaction, the executive vice president now directly owns 177,556 shares of the company’s stock, valued at $22,473,262.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David E. Sharbutt sold 3,653 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $128.61, for a total value of $469,812.33. Following the transaction, the director now directly owns 10,098 shares of the company’s stock, valued at $1,298,703.78. The disclosure for this sale can be found here. Insiders have sold 218,291 shares of company stock worth $27,027,603 over the last quarter. Insiders own 0.95% of the company’s stock.

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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