American Tower Corporation $AMT Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC trimmed its stake in shares of American Tower Corporation (NYSE:AMT) by 42.6% during the 2nd quarter, Holdings Channel reports. The fund owned 907 shares of the real estate investment trust’s stock after selling 673 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in American Tower were worth $200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Nuveen LLC acquired a new stake in American Tower during the first quarter worth about $991,525,000. Price T Rowe Associates Inc. MD grew its holdings in 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 acquiring an additional 2,309,627 shares during the period. Alyeska Investment Group L.P. acquired a new stake in American Tower during the first quarter worth about $162,127,000. Amundi grew its holdings in American Tower by 35.5% during the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after acquiring an additional 743,617 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings in American Tower by 490.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock worth $141,612,000 after acquiring an additional 540,648 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AMT has been the topic of several research analyst reports. Raymond James Financial set a $250.00 price objective on American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a report on Friday. Finally, Jefferies Financial Group dropped their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.75.

American Tower Stock Performance

NYSE AMT opened at $191.36 on Friday. The company has a market cap of $89.60 billion, a PE ratio of 69.58, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. The stock’s 50 day simple moving average is $195.30 and its 200-day simple moving average is $209.02. American Tower Corporation has a 1-year low of $172.51 and a 1-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 released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

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

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.