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

Andra AP fonden reduced its holdings in American Tower Corporation (NYSE:AMT) by 9.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 98,589 shares of the real estate investment trust’s stock after selling 10,400 shares during the quarter. Andra AP fonden’s holdings in American Tower were worth $21,790,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. boosted its holdings in American Tower by 100.0% in 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 in the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Saudi Central Bank bought a new stake in shares of American Tower during the 1st quarter valued at about $40,000. Accredited Wealth Management LLC boosted its stake 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 valued at $46,000 after purchasing an additional 135 shares in the last quarter. Finally, Park Square Financial Group LLC boosted its stake in shares of American Tower by 512.8% during the 1st quarter. Park Square Financial Group LLC now owns 239 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research reports. Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Wells Fargo & Company dropped their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Finally, JPMorgan Chase & Co. dropped 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. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.11.

Insider Activity

In other news, Director Eugene F. Reilly bought 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $179.43 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The business’s 50 day moving average price is $190.99 and its 200-day moving average price is $207.09. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The stock has a market cap of $84.02 billion, a P/E ratio of 28.66, a P/E/G ratio of 1.08 and a beta of 0.86.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 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 the consensus estimate of $2.65 billion. During the same period in the previous year, the company posted $2.52 earnings per share. The company’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. Equities research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were paid a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. American Tower’s payout ratio is presently 108.63%.

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.