American Tower Corporation $AMT Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC trimmed its position in American Tower Corporation (NYSE:AMT) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,039 shares of the real estate investment trust’s stock after selling 73 shares during the quarter. Ingalls & Snyder LLC’s holdings in American Tower were worth $2,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Cabot Wealth Management Inc. increased its holdings in shares of American Tower by 2.5% in the 2nd quarter. Cabot Wealth Management Inc. now owns 50,153 shares of the real estate investment trust’s stock valued at $11,085,000 after acquiring an additional 1,241 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of American Tower by 148.6% in the 2nd quarter. Brighton Jones LLC now owns 8,730 shares of the real estate investment trust’s stock valued at $1,929,000 after acquiring an additional 5,219 shares during the last quarter. MQS Management LLC bought a new stake in shares of American Tower in the 2nd quarter valued at approximately $336,000. BIP Wealth LLC increased its holdings in shares of American Tower by 3.0% in the 2nd quarter. BIP Wealth LLC now owns 4,846 shares of the real estate investment trust’s stock valued at $1,071,000 after acquiring an additional 141 shares during the last quarter. Finally, Rational Advisors Inc. bought a new stake in shares of American Tower in the 2nd quarter valued at approximately $2,575,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 0.6%

NYSE:AMT opened at $191.36 on Monday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The stock has a market cap of $89.60 billion, a price-to-earnings ratio of 69.58, a PEG ratio of 1.16 and a beta of 0.86. The business has a fifty day moving average of $195.30 and a 200-day moving average of $209.07. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95.

American Tower (NYSE:AMT) last released its quarterly earnings results 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 return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the business posted $2.79 earnings per share. The company’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. Equities analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMT shares. UBS Group boosted their price target on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research report on Friday. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Two investment 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $236.75.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the company’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 in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by company insiders.

About American Tower

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.