American Tower Corporation $AMT Shares Sold by Wright Investors Service Inc.

Wright Investors Service Inc. cut its holdings in American Tower Corporation (NYSE:AMT) by 4.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,322 shares of the real estate investment trust’s stock after selling 230 shares during the period. Wright Investors Service Inc.’s holdings in American Tower were worth $1,176,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AMT. Elmwood Wealth Management Inc. boosted its position in American Tower by 2.5% during the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 50 shares during the period. 4J Wealth Management LLC boosted its position in American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 50 shares during the period. TCTC Holdings LLC boosted its position in American Tower by 15.8% during the 1st quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 51 shares during the period. Coyle Financial Counsel LLC boosted its position in American Tower by 2.4% during the 1st quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust’s stock worth $487,000 after purchasing an additional 53 shares during the period. Finally, Fortitude Advisory Group L.L.C. boosted its position in American Tower by 2.9% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust’s stock worth $416,000 after purchasing an additional 54 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of AMT stock opened at $193.29 on Friday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a one year low of $172.51 and a one year high of $238.34. The company’s 50-day simple moving average is $208.18 and its 200-day simple moving average is $212.97. The stock has a market capitalization of $90.51 billion, a price-to-earnings ratio of 70.29, a PEG ratio of 1.19 and a beta of 0.86.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the company posted $2.79 earnings per share. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays upped their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. UBS Group raised their target price on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price for the company. in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.