Wendell David Associates Inc. Sells 485 Shares of American Tower Corporation $AMT

Wendell David Associates Inc. trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,518 shares of the real estate investment trust’s stock after selling 485 shares during the quarter. Wendell David Associates Inc.’s holdings in American Tower were worth $7,850,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. North Capital Inc. bought a new stake in shares of American Tower in the 1st quarter valued at $25,000. Hopwood Financial Services Inc. boosted its stake in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower in the 1st quarter valued at $31,000. Rosenberg Matthew Hamilton boosted its stake in shares of American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, Saudi Central Bank bought a new stake in shares of American Tower in the 1st quarter valued at $40,000. 92.69% of the stock is owned by institutional investors.

American Tower Stock Up 0.1%

Shares of NYSE AMT opened at $191.60 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The company’s fifty day simple moving average is $196.63 and its 200 day simple moving average is $209.83. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The firm has a market cap of $89.72 billion, a PE ratio of 69.67, a P/E/G ratio of 1.16 and a beta of 0.86.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share 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 firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. The business’s revenue 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, sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.5%. American Tower’s dividend payout ratio is presently 247.27%.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AMT. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. Jefferies Financial Group cut their target price on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. UBS Group increased their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $238.00.

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.