Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stake in American Tower Corporation (REIT) (AMT)

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in American Tower Corporation (REIT) (NYSE:AMT) by 16.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,241 shares of the real estate investment trust’s stock after buying an additional 14,354 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in American Tower Corporation (REIT) were worth $13,264,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 valued at $3,349,823,000 after buying an additional 1,008,946 shares in the last quarter. Wellington Management Group LLP increased its stake 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 valued at $2,648,146,000 after buying an additional 1,679,615 shares in the last quarter. Edgewood Management LLC increased its stake 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 valued at $720,226,000 after buying an additional 151,527 shares in the last quarter. American Century Companies Inc. increased its stake 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 valued at $484,577,000 after buying an additional 1,507,172 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake 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 valued at $459,850,000 after buying an additional 303,425 shares in the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.

American Tower Corporation (NYSE:AMT) traded up 0.31% during midday trading on Friday, reaching $144.24. The company’s stock had a trading volume of 1,253,977 shares. The company has a market capitalization of $61.90 billion, a price-to-earnings ratio of 57.70 and a beta of 0.71. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $146.09. The company’s 50-day moving average price is $137.50 and its 200-day moving average price is $126.63.

American Tower Corporation (REIT) (NYSE:AMT) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by $0.75. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. American Tower Corporation (REIT) had a net margin of 18.58% and a return on equity of 16.70%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the business posted $1.38 earnings per share. On average, analysts predict that American Tower Corporation will post $3.02 earnings per share for the current fiscal year.

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Several equities research analysts recently weighed in on the company. Cowen and Company reaffirmed a “buy” rating and set a $155.00 price target on shares of American Tower Corporation (REIT) in a report on Wednesday, July 19th. Citigroup Inc. downgraded American Tower Corporation (REIT) to an “outperform” rating and set a $147.00 price target for the company. in a report on Monday, June 12th. BidaskClub downgraded American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Zacks Investment Research raised American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a report on Thursday, August 3rd. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of American Tower Corporation (REIT) in a report on Monday, June 12th. One 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 a consensus price target of $142.67.

In other news, EVP Amit Sharma sold 20,747 shares of American Tower Corporation (REIT) stock in a transaction on Friday, August 18th. The stock was sold at an average price of $139.67, for a total value of $2,897,733.49. Following the completion of the sale, the executive vice president now directly owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven C. Marshall sold 20,548 shares of American Tower Corporation (REIT) stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $134.92, for a total value of $2,772,336.16. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

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.

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

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