Kayne Anderson Rudnick Investment Management LLC Has $3.26 Million Stake in American Tower Corporation (REIT) (AMT)

Kayne Anderson Rudnick Investment Management LLC grew its position in American Tower Corporation (REIT) (NYSE:AMT) by 21.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,875 shares of the real estate investment trust’s stock after buying an additional 4,274 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in American Tower Corporation (REIT) were worth $3,263,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Alexandria Capital LLC boosted its position in shares of American Tower Corporation (REIT) by 0.5% during the 2nd quarter. Alexandria Capital LLC now owns 812 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 4 shares during the period. Cornerstone Advisors Inc. lifted its holdings in American Tower Corporation (REIT) by 1.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,235 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 15 shares in the last quarter. Baxter Bros Inc. lifted its holdings in American Tower Corporation (REIT) by 0.4% during the 2nd quarter. Baxter Bros Inc. now owns 3,470 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 15 shares in the last quarter. HL Financial Services LLC lifted its holdings in American Tower Corporation (REIT) by 0.5% during the 2nd quarter. HL Financial Services LLC now owns 3,675 shares of the real estate investment trust’s stock worth $486,000 after buying an additional 19 shares in the last quarter. Finally, Atlantic Trust LLC lifted its holdings in American Tower Corporation (REIT) by 0.5% during the 2nd quarter. Atlantic Trust LLC now owns 4,345 shares of the real estate investment trust’s stock worth $575,000 after buying an additional 21 shares in the last quarter. 92.04% of the stock is owned by institutional investors and hedge funds.

In related news, Director Pamela D. A. Reeve sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $143.49, for a total value of $717,450.00. Following the completion of the sale, the director now owns 17,758 shares in the company, valued at $2,548,095.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edmund Disanto sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $137.95, for a total transaction of $1,379,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,000 shares of company stock worth $18,297,610. Insiders own 0.86% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Kayne Anderson Rudnick Investment Management LLC Has $3.26 Million Stake in American Tower Corporation (REIT) (AMT)” was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark laws. The original version of this news story can be accessed at https://sportsperspectives.com/2017/11/18/kayne-anderson-rudnick-investment-management-llc-has-3-26-million-stake-in-american-tower-corporation-reit-amt.html.

Shares of American Tower Corporation (AMT) traded down $2.53 during trading hours on Friday, hitting $145.87. 2,053,879 shares of the stock traded hands, compared to its average volume of 1,979,571. The stock has a market capitalization of $63,770.00, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.74. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $155.28.

A number of research firms have issued reports on AMT. Argus increased their target price on shares of American Tower Corporation (REIT) to $170.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research lowered shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. ValuEngine upgraded shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Morgan Stanley raised their price objective on shares of American Tower Corporation (REIT) from $155.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Jefferies Group LLC restated a “buy” rating and issued a $144.00 price objective on shares of American Tower Corporation (REIT) in a report on Tuesday, September 12th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $157.00.

American Tower Corporation (REIT) Profile

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.

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (REIT) (NYSE:AMT).

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

Receive News & Ratings for American Tower Corporation (REIT) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower Corporation (REIT) and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply