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

Ingalls & Snyder LLC decreased its position in American Tower Corporation (NYSE:AMT) by 0.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,039 shares of the real estate investment trust’s stock after selling 73 shares during the period. Ingalls & Snyder LLC’s holdings in American Tower were worth $2,440,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of American Tower by 9.0% during the first quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust’s stock valued at $1,702,000 after purchasing an additional 648 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of American Tower by 1.6% during the first quarter. Sequoia Financial Advisors LLC now owns 9,244 shares of the real estate investment trust’s stock valued at $2,012,000 after purchasing an additional 148 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of American Tower by 35.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,053 shares of the real estate investment trust’s stock valued at $16,610,000 after purchasing an additional 20,138 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in shares of American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.6%

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

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. American Tower’s quarterly 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. On average, sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMT has been the subject of several analyst reports. Morgan Stanley reduced their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. UBS Group upped their target price 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 target price on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Wells Fargo & Company dropped their price target on American Tower from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Finally, JPMorgan Chase & Co. upped their price target 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 equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.75.

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.