American Tower Corporation $AMT Shares Sold by NORTHSTAR ASSET MANAGEMENT Co

NORTHSTAR ASSET MANAGEMENT Co cut its stake in shares of American Tower Corporation (NYSE:AMT) by 1.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 17,907 shares of the real estate investment trust’s stock after selling 200 shares during the period. American Tower comprises about 0.9% of NORTHSTAR ASSET MANAGEMENT Co’s holdings, making the stock its 26th biggest holding. NORTHSTAR ASSET MANAGEMENT Co’s holdings in American Tower were worth $3,958,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in 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 acquiring an additional 434,118 shares during the period. Price T Rowe Associates Inc. MD raised its position 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. Deutsche Bank AG raised its position in 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 acquiring an additional 285,195 shares during the period. 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 in 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 in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Barclays upped their target price on shares of American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. BMO Capital Markets dropped their price objective on shares of American Tower from $245.00 to $220.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Citigroup dropped their price objective on shares of American Tower from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Finally, Jefferies Financial Group dropped their price objective on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus price target of $236.75.

Insider Activity

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 sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

American Tower Trading Up 0.6%

NYSE AMT opened at $191.36 on Friday. The firm’s 50-day moving average is $195.30 and its two-hundred day moving average is $209.02. American Tower Corporation has a 12 month low of $172.51 and a 12 month 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. The stock has a market capitalization of $89.60 billion, a P/E ratio of 69.58, a PEG ratio of 1.15 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 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 for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. American Tower’s revenue for the quarter 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. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is currently 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.