Bailard Inc. Lowers Position in American Tower Corporation $AMT

Bailard Inc. decreased its stake in shares of American Tower Corporation (NYSE:AMT) by 6.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,708 shares of the real estate investment trust’s stock after selling 462 shares during the quarter. Bailard Inc.’s holdings in American Tower were worth $1,483,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Hopwood Financial Services Inc. raised its position in shares of 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 buying an additional 60 shares during the period. Legacy Investment Solutions LLC purchased a new stake in American Tower during the second quarter valued at about $31,000. Rosenberg Matthew Hamilton raised its holdings in shares of American Tower by 86.0% in the 2nd 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 period. Saudi Central Bank acquired a new position in shares of American Tower in the 1st quarter valued at about $40,000. Finally, Accredited Wealth Management LLC grew its holdings in shares of American Tower by 180.0% during the 1st 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 period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. BMO Capital Markets dropped their price objective on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. The Goldman Sachs Group decreased their price target on shares of American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Finally, Morgan Stanley cut their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $231.11.

American Tower Stock Down 1.3%

AMT stock opened at $181.02 on Friday. The firm has a market cap of $84.74 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 1.08 and a beta of 0.85. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The firm has a fifty day moving average price of $188.66 and a two-hundred day moving average price of $205.73. 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 (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the business posted $2.52 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s dividend payout ratio is 108.63%.

Insider Buying and Selling at American Tower

In related news, Director Eugene F. Reilly purchased 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were acquired at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the transaction, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.