Andra AP fonden Sells 10,400 Shares of American Tower Corporation $AMT

Andra AP fonden cut its stake in shares of American Tower Corporation (NYSE:AMT) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,589 shares of the real estate investment trust’s stock after selling 10,400 shares during the period. Andra AP fonden’s holdings in American Tower were worth $21,790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Hopwood Financial Services Inc. increased its stake in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in shares of American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Saudi Central Bank bought a new position in shares of American Tower in the first quarter worth approximately $40,000. Accredited Wealth Management LLC increased its position in shares of American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares during the last quarter. Finally, Park Square Financial Group LLC increased its position in shares of American Tower by 512.8% in the first quarter. Park Square Financial Group LLC now owns 239 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

AMT opened at $179.43 on Thursday. The stock’s 50 day simple moving average is $190.99 and its 200 day simple moving average is $207.09. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The firm has a market cap of $84.02 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 1.08 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the company earned $2.52 EPS. American Tower’s revenue for the quarter was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, 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 announced 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 3.8%. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMT. BMO Capital Markets decreased their price target on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Jefferies Financial Group reduced their target price on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Argus set a $210.00 price objective on American Tower in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Finally, Citigroup reiterated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.11.

Insider Transactions at American Tower

In other news, Director Eugene F. Reilly purchased 5,554 shares of the business’s stock in a transaction on Friday, October 31st. The shares were acquired at an average price of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

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.