Nisa Investment Advisors LLC Sells 82,569 Shares of American Tower Corporation $AMT

Nisa Investment Advisors LLC trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 29.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 198,176 shares of the real estate investment trust’s stock after selling 82,569 shares during the quarter. Nisa Investment Advisors LLC’s holdings in American Tower were worth $44,181,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AMT. North Capital Inc. purchased a new stake in shares of American Tower during the first quarter worth about $25,000. Hopwood Financial Services Inc. increased its holdings in American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the period. Rosenberg Matthew Hamilton raised its position in American Tower by 86.0% during 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 in the last quarter. Saudi Central Bank bought a new position in shares of American Tower during the 1st quarter worth $40,000. Finally, Accredited Wealth Management LLC increased its stake in shares of American Tower by 180.0% during the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 135 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 0.6%

AMT stock opened at $191.36 on Friday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The company’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 quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $89.60 billion, a price-to-earnings ratio of 69.58, a PEG 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 (EPS) 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 business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the previous year, the company 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. On average, 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 disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is 247.27%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMT shares. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research report on Friday. Morgan Stanley dropped their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Wells Fargo & Company cut their price objective on American Tower from $230.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Finally, Jefferies Financial Group decreased their price objective on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.75.

Insider Buying and Selling

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 completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

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.