Mitchell & Pahl Private Wealth LLC Sells 138 Shares of American Tower Corporation $AMT

Mitchell & Pahl Private Wealth LLC trimmed its holdings in American Tower Corporation (NYSE:AMT) by 5.0% in the second quarter, HoldingsChannel reports. The fund owned 2,641 shares of the real estate investment trust’s stock after selling 138 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in American Tower were worth $584,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in shares of American Tower in the first quarter worth $991,525,000. Price T Rowe Associates Inc. MD increased its stake in shares of American Tower by 39.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after buying an additional 2,309,627 shares during the period. GAMMA Investing LLC increased its stake in shares of American Tower by 23,627.3% in the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock worth $370,346,000 after buying an additional 1,694,784 shares during the period. Bessemer Group Inc. increased its stake in shares of American Tower by 272.0% in the first quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock worth $247,390,000 after buying an additional 831,247 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in shares of American Tower in the first quarter worth $162,127,000. 92.69% of the stock is currently owned by institutional investors.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

American Tower Price Performance

NYSE AMT opened at $193.29 on Monday. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $238.34. The firm has a market capitalization of $90.51 billion, a P/E ratio of 70.29, a PEG ratio of 1.19 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a 50-day moving average price of $208.18 and a 200-day moving average price of $213.04.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is 247.27%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Wells Fargo & Company reduced their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. UBS Group boosted their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Finally, Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the company 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 issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

About American Tower

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.