American Tower Corporation $AMT Shares Acquired by Slow Capital Inc.

Slow Capital Inc. lifted its position in American Tower Corporation (NYSE:AMT) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 29,050 shares of the real estate investment trust’s stock after acquiring an additional 477 shares during the quarter. Slow Capital Inc.’s holdings in American Tower were worth $6,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new position in shares of American Tower in the first quarter worth about $25,000. Hopwood Financial Services Inc. increased its stake in shares of 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 purchasing an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of American Tower in the 1st quarter valued at about $31,000. City Holding Co. acquired a new position in American Tower in the 1st quarter worth about $39,000. Finally, Saudi Central Bank purchased a new position in American Tower during the first quarter worth approximately $40,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Down 2.5%

Shares of AMT opened at $185.46 on Tuesday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The stock has a market cap of $86.84 billion, a PE ratio of 67.44, a price-to-earnings-growth ratio of 1.17 and a beta of 0.86. The firm’s fifty day moving average is $200.75 and its two-hundred day moving average is $211.51. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period last year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts forecast 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 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 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 30th. American Tower’s payout ratio is currently 247.27%.

Analyst Ratings Changes

A number of analysts have recently commented on AMT shares. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Barclays boosted their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Wells Fargo & Company decreased their price objective 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. HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price for the company. in a research note on Wednesday, July 30th. Finally, Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $242.07.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the 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 completion of the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

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.