Drucker Wealth 3.0 LLC Trims Position in American Tower Corporation $AMT

Drucker Wealth 3.0 LLC lessened its position in shares of American Tower Corporation (NYSE:AMT) by 23.7% in the second quarter, Holdings Channel reports. The fund owned 9,751 shares of the real estate investment trust’s stock after selling 3,027 shares during the quarter. Drucker Wealth 3.0 LLC’s holdings in American Tower were worth $2,163,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of AMT. Nuveen LLC purchased a new stake in American Tower during the first quarter valued at $991,525,000. Price T Rowe Associates Inc. MD increased its position in American Tower by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after buying an additional 2,309,627 shares in the last quarter. Bessemer Group Inc. increased its position in American Tower by 272.0% in the first quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock worth $247,390,000 after buying an additional 831,247 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in American Tower in the first quarter worth about $162,127,000. Finally, Amundi increased its position in American Tower by 35.5% in the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after buying an additional 743,617 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on AMT shares. Barclays upped their price target on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Wall Street Zen cut American Tower from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. JPMorgan Chase & Co. upped their price target on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Two equities research 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $242.07.

American Tower Stock Performance

NYSE:AMT opened at $186.60 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The stock has a 50-day moving average price of $198.75 and a 200 day moving average price of $210.81. The stock has a market capitalization of $87.38 billion, a P/E ratio of 67.85, a P/E/G ratio of 1.12 and a beta of 0.86.

American Tower (NYSE:AMT) last released 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 return on equity of 24.85% and a net margin of 12.60%.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 business posted $2.79 earnings per share. The firm’s revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was 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 $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is owned by corporate insiders.

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.