Yousif Capital Management LLC Reduces Holdings in American Tower Corporation $AMT

Yousif Capital Management LLC decreased its position in shares of American Tower Corporation (NYSE:AMT) by 0.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 74,263 shares of the real estate investment trust’s stock after selling 119 shares during the quarter. Yousif Capital Management LLC’s holdings in American Tower were worth $16,414,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of American Tower by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock worth $13,667,344,000 after purchasing an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after buying an additional 2,309,627 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of American Tower by 4.0% during the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock worth $1,606,621,000 after buying an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of American Tower by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock worth $1,421,965,000 after buying an additional 88,120 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of American Tower by 3.7% during the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock worth $1,335,407,000 after buying an additional 220,565 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The shares were 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 in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

AMT stock opened at $186.60 on Monday. The firm has a 50 day moving average of $198.75 and a 200-day moving average of $210.80. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a market cap of $87.38 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 1.13 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $2.58 billion. During the same period last year, the firm earned $2.79 EPS. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research reports. Raymond James Financial set a $250.00 price target on American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. UBS Group raised their price target on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Barclays raised their price target on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. 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, October 1st. Finally, Wells Fargo & Company reduced their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.07.

American Tower Company 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.