CENTRAL TRUST Co Sells 717 Shares of American Tower Corporation $AMT

CENTRAL TRUST Co reduced its stake in shares of American Tower Corporation (NYSE:AMT) by 9.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,747 shares of the real estate investment trust’s stock after selling 717 shares during the quarter. CENTRAL TRUST Co’s holdings in American Tower were worth $1,491,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Blossom Wealth Management boosted its stake in American Tower by 1.8% in the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 45 shares in the last quarter. TFG Advisers LLC increased its position in American Tower by 0.3% during the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after purchasing an additional 47 shares during the period. Novem Group raised its stake in American Tower by 3.8% during the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 48 shares during the last quarter. Analyst IMS Investment Management Services Ltd. raised its position in shares of American Tower by 3.6% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock worth $303,000 after acquiring an additional 48 shares in the last quarter. Finally, Marion Wealth Management increased its holdings in American Tower by 0.8% in the second quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock worth $1,309,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of the purchase, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMT. TD Cowen decreased their price target on shares of American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Morgan Stanley dropped their price objective on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Raymond James Financial restated a “strong-buy” rating and issued a $231.00 target price (down previously from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. Barclays increased their price target on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Finally, Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $231.11.

American Tower Price Performance

NYSE:AMT opened at $183.34 on Thursday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The firm has a market capitalization of $85.83 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 1.08 and a beta of 0.85. The stock has a fifty day moving average of $188.94 and a 200 day moving average of $205.91.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. American Tower’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, research analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. American Tower’s dividend payout ratio is 108.63%.

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.