Truist Financial Corp Sells 6,925 Shares of American Tower Corporation $AMT

Truist Financial Corp lessened its holdings in American Tower Corporation (NYSE:AMT) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,006 shares of the real estate investment trust’s stock after selling 6,925 shares during the quarter. Truist Financial Corp’s holdings in American Tower were worth $29,176,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. North Capital Inc. acquired a new stake in American Tower in the 1st quarter valued at $25,000. Hopwood Financial Services Inc. increased its position in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower in the first quarter valued at about $31,000. City Holding Co. bought a new stake in American Tower during the first quarter worth about $39,000. Finally, Saudi Central Bank acquired a new position in American Tower during the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

American Tower Price Performance

NYSE:AMT opened at $191.03 on Friday. The company has a market cap of $89.45 billion, a P/E ratio of 69.47, a P/E/G ratio of 1.19 and a beta of 0.86. The firm’s fifty day moving average price is $202.32 and its two-hundred day moving average price is $211.93. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the company posted $2.79 EPS. American Tower’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 expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. American Tower’s dividend payout ratio is presently 247.27%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMT. UBS Group boosted their price target on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. HSBC downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the company a “sector perform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $242.07.

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.