Envestnet Portfolio Solutions Inc. Sells 4,743 Shares of American Tower Corporation $AMT

Envestnet Portfolio Solutions Inc. lessened its holdings in American Tower Corporation (NYSE:AMT) by 8.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,342 shares of the real estate investment trust’s stock after selling 4,743 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in American Tower were worth $12,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. North Capital Inc. acquired a new position in American Tower in the 1st quarter valued at $25,000. Hopwood Financial Services Inc. grew its holdings in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower in the 1st quarter valued at $31,000. Saudi Central Bank acquired a new position in American Tower in the 1st quarter valued at $40,000. Finally, Accredited Wealth Management LLC grew its holdings in American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 135 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

AMT opened at $183.03 on Tuesday. The firm has a market cap of $85.70 billion, a P/E ratio of 66.56, a price-to-earnings-growth ratio of 1.13 and a beta of 0.86. 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 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The business’s fifty day moving average is $198.16 and its 200-day moving average is $210.57.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share 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 business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company earned $2.79 EPS. American Tower’s revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed 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 dividend yield of 3.7%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio is currently 247.27%.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a report on Sunday. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Finally, Jefferies Financial Group reduced their target price on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $241.06.

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.