Canada Pension Plan Investment Board Has $141.15 Million Stake in American Tower Corporation (REIT) (AMT)

Canada Pension Plan Investment Board increased its position in American Tower Corporation (REIT) (NYSE:AMT) by 7.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,066,709 shares of the real estate investment trust’s stock after buying an additional 75,700 shares during the period. Canada Pension Plan Investment Board’s holdings in American Tower Corporation (REIT) were worth $141,147,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position 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 raised its position 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 raised its position 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. American Century Companies Inc. raised its position in shares of American Tower Corporation (REIT) by 60.8% in the first quarter. American Century Companies Inc. now owns 3,986,977 shares of the real estate investment trust’s stock worth $484,577,000 after buying an additional 1,507,172 shares during the last quarter. Finally, Geode Capital Management LLC raised its position 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. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Corporation (NYSE AMT) opened at 139.97 on Tuesday. American Tower Corporation has a one year low of $99.72 and a one year high of $140.02. The company has a market cap of $60.07 billion, a P/E ratio of 55.99 and a beta of 0.71. The company has a 50-day moving average of $135.38 and a 200 day moving average of $124.50.

American Tower Corporation (REIT) (NYSE:AMT) last released its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the previous year, the firm posted $1.38 EPS. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. Analysts anticipate that American Tower Corporation will post $3.02 earnings per share for the current year.

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A number of equities analysts recently weighed in on AMT shares. Zacks Investment Research upgraded shares of American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 price objective for the company in a report on Thursday, July 27th. Deutsche Bank AG boosted their price objective on shares of American Tower Corporation (REIT) from $145.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Royal Bank Of Canada boosted their price objective on shares of American Tower Corporation (REIT) from $134.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. Argus boosted their price objective on shares of American Tower Corporation (REIT) from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $150.00 price objective on shares of American Tower Corporation (REIT) in a report on Thursday, July 6th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $142.67.

In related news, Director David E. Sharbutt sold 3,653 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $128.61, for a total transaction of $469,812.33. Following the transaction, the director now directly owns 10,098 shares in the company, valued at $1,298,703.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven C. Marshall sold 20,548 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $134.92, for a total transaction of $2,772,336.16. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.

American Tower Corporation (REIT) Company 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.

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




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