US Bancorp DE Sells 45,348 Shares of American Tower Corporation $AMT

US Bancorp DE cut its holdings in shares of American Tower Corporation (NYSE:AMT) by 4.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,015,529 shares of the real estate investment trust’s stock after selling 45,348 shares during the period. US Bancorp DE’s holdings in American Tower were worth $224,455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMT. North Capital Inc. purchased a new stake in American Tower during the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. lifted its position in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower during the first quarter valued at approximately $31,000. City Holding Co. purchased a new stake in American Tower during the first quarter valued at approximately $39,000. Finally, Saudi Central Bank purchased a new stake in American Tower during the first quarter valued at approximately $40,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Barclays raised their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Wells Fargo & Company decreased their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a report on Wednesday. Finally, UBS Group raised their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $242.07.

American Tower Trading Down 0.8%

Shares of American Tower stock opened at $185.46 on Thursday. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a fifty day moving average price of $199.72 and a 200 day moving average price of $211.16. 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 $86.84 billion, a PE ratio of 67.44, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86.

American Tower (NYSE:AMT) last issued its 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 net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the company posted $2.79 earnings per share. The firm’s revenue 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 research 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 declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of the firm’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 sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.