Essex Financial Services Inc. Has $550,000 Stake in American Tower Corporation (REIT) (AMT)

Essex Financial Services Inc. increased its position in American Tower Corporation (REIT) (NYSE:AMT) by 16.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,207 shares of the real estate investment trust’s stock after buying an additional 726 shares during the period. Essex Financial Services Inc.’s holdings in American Tower Corporation (REIT) were worth $550,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Sarasin & Partners LLP raised its position in shares of American Tower Corporation (REIT) by 1,571.3% in the third quarter. Sarasin & Partners LLP now owns 391,767 shares of the real estate investment trust’s stock worth $44,399,000 after buying an additional 368,326 shares during the last quarter. WMS Partners LLC raised its position in shares of American Tower Corporation (REIT) by 4.0% in the second quarter. WMS Partners LLC now owns 128,960 shares of the real estate investment trust’s stock worth $14,651,000 after buying an additional 4,950 shares during the last quarter. Carnegie Capital Asset Management LLC raised its position in shares of American Tower Corporation (REIT) by 19.4% in the second quarter. Carnegie Capital Asset Management LLC now owns 85,865 shares of the real estate investment trust’s stock worth $10,088,000 after buying an additional 13,981 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of American Tower Corporation (REIT) by 18.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 582,944 shares of the real estate investment trust’s stock worth $66,228,000 after buying an additional 92,096 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of American Tower Corporation (REIT) by 6.5% in the third quarter. New York State Common Retirement Fund now owns 1,168,841 shares of the real estate investment trust’s stock worth $132,465,000 after buying an additional 71,341 shares during the last quarter. 93.07% 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 (NYSE:AMT) traded up 1.190% during mid-day trading on Monday, reaching $106.745. 739,470 shares of the company were exchanged. The company has a market capitalization of $45.44 billion, a price-to-earnings ratio of 53.426 and a beta of 0.61. The company has a 50 day moving average of $104.75 and a 200-day moving average of $109.63. American Tower Corporation has a 1-year low of $83.75 and a 1-year high of $118.26.

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A number of brokerages recently weighed in on AMT. Macquarie began coverage on shares of American Tower Corporation (REIT) in a report on Tuesday, December 6th. They issued an “outperform” rating and a $125.00 price objective for the company. Zacks Investment Research upgraded shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Monday, November 14th. Deutsche Bank AG reiterated a “buy” rating and set a $135.00 target price on shares of American Tower Corporation (REIT) in a research note on Friday, November 4th. Guggenheim initiated coverage on shares of American Tower Corporation (REIT) in a research note on Thursday, December 15th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus boosted their target price on shares of American Tower Corporation (REIT) from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, October 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $123.60.

In related news, Chairman James D. Taiclet, Jr. sold 40,000 shares of the company’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $104.13, for a total value of $4,165,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.95% of the company’s stock.

About American Tower Corporation (REIT)

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

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).

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