American Tower Corporation $AMT Shares Sold by Ballast Advisors LLC

Ballast Advisors LLC reduced its position in American Tower Corporation (NYSE:AMT) by 6.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 920 shares of the real estate investment trust’s stock after selling 63 shares during the quarter. Ballast Advisors LLC’s holdings in American Tower were worth $203,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Blossom Wealth Management raised its stake in shares of American Tower by 1.8% in the 2nd quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock valued at $575,000 after acquiring an additional 45 shares during the period. TFG Advisers LLC grew its stake in shares of American Tower by 0.3% in the second quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after buying an additional 47 shares in the last quarter. Novem Group grew its stake in shares of American Tower by 3.8% in the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 48 shares in the last quarter. Cypress Wealth Services LLC grew its stake in shares of American Tower by 1.9% in the second quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust’s stock valued at $593,000 after buying an additional 49 shares in the last quarter. Finally, Elmwood Wealth Management Inc. grew its stake in shares of American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock valued at $454,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMT shares. UBS Group increased their target price on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Citigroup lowered their target price on American Tower from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Raymond James Financial set a $250.00 price objective on American Tower and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, HSBC lowered American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.75.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

American Tower Stock Up 0.6%

AMT opened at $191.36 on Friday. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The stock has a market cap of $89.60 billion, a P/E ratio of 69.58, a P/E/G ratio of 1.16 and a beta of 0.86. The stock’s 50 day moving average price is $195.30 and its 200 day moving average price is $209.06. 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 issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the firm earned $2.79 EPS. The firm’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, research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is presently 247.27%.

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.