GLOBALT Investments LLC GA Sells 294 Shares of American Tower Corporation $AMT

GLOBALT Investments LLC GA trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,086 shares of the real estate investment trust’s stock after selling 294 shares during the quarter. GLOBALT Investments LLC GA’s holdings in American Tower were worth $1,345,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. North Capital Inc. bought a new stake in American Tower during the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. grew its position in American Tower by 100.0% during the first 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 during the period. Rosenberg Matthew Hamilton grew its position in American Tower by 86.0% during the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 80 shares during the period. Saudi Central Bank bought a new stake in American Tower during the first quarter valued at approximately $40,000. Finally, Accredited Wealth Management LLC grew its position in American Tower by 180.0% during the first 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 during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

Shares of NYSE:AMT opened at $191.36 on Friday. 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 firm has a fifty day moving average price of $195.30 and a 200 day moving average price of $209.02. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The firm has a market cap of $89.60 billion, a price-to-earnings ratio of 69.58, a P/E/G ratio of 1.15 and a beta of 0.86.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business earned $2.79 earnings per share. 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. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors 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 dividend on an annualized basis and a dividend yield of 3.6%. 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 shares were 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 approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent research reports. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a “strong-buy” rating in a research report on Wednesday, July 30th. Citigroup dropped their price target on shares of American Tower from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of American Tower in a research report on Friday. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Finally, UBS Group upped their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. 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, American Tower presently has an average rating of “Moderate Buy” and a consensus target price 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.