Naples Global Advisors LLC Lowers Stock Holdings in American Tower Corporation $AMT

Naples Global Advisors LLC reduced its holdings in American Tower Corporation (NYSE:AMT) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,521 shares of the real estate investment trust’s stock after selling 93 shares during the quarter. Naples Global Advisors LLC’s holdings in American Tower were worth $562,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AMT. North Capital Inc. purchased a new position in shares of American Tower in the 1st quarter valued at $25,000. Hopwood Financial Services Inc. boosted its stake in shares of American Tower by 100.0% during 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 during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower during the 1st quarter worth $31,000. City Holding Co. bought a new stake in American Tower in the first quarter valued at about $39,000. Finally, Saudi Central Bank bought a new position in American Tower during the first quarter worth $40,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a report on Saturday, September 27th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the company a “sector perform” rating in a report on Wednesday. Wells Fargo & Company cut their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Finally, BMO Capital Markets restated an “outperform” rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $242.07.

American Tower Price Performance

American Tower stock opened at $190.10 on Friday. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. 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 business has a 50 day simple moving average of $201.53 and a 200 day simple moving average of $211.76. The company has a market capitalization of $89.01 billion, a PE ratio of 69.13, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86.

American Tower (NYSE:AMT) last posted 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. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. American Tower’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts forecast 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 will be paid on Monday, October 20th. Stockholders 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 dividend yield of 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower’s payout ratio is currently 247.27%.

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.