Mayflower Financial Advisors LLC Trims Stake in American Tower Corporation $AMT

Mayflower Financial Advisors LLC reduced its position in American Tower Corporation (NYSE:AMT) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,761 shares of the real estate investment trust’s stock after selling 90 shares during the period. Mayflower Financial Advisors LLC’s holdings in American Tower were worth $1,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMT. Nuveen LLC acquired a new position in American Tower in the 1st quarter valued at about $991,525,000. Price T Rowe Associates Inc. MD increased its position in American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after acquiring an additional 2,309,627 shares during the period. Alyeska Investment Group L.P. acquired a new position in American Tower in the 1st quarter valued at about $162,127,000. Amundi increased its position in American Tower by 35.5% in the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after acquiring an additional 743,617 shares during the period. Finally, T. Rowe Price Investment Management Inc. increased its position in American Tower by 490.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock valued at $141,612,000 after acquiring an additional 540,648 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMT shares. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Morgan Stanley dropped their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. HSBC cut American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a research report on Wednesday, July 30th. Finally, Raymond James Financial set a $250.00 target price on American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.75.

American Tower Stock Performance

AMT opened at $182.90 on Wednesday. The stock has a market cap of $85.64 billion, a P/E ratio of 66.51, a P/E/G ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50 day simple moving average is $194.56 and its 200 day simple moving average is $208.76. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. 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 that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

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.