American Tower Corporation $AMT Position Reduced by Belpointe Asset Management LLC

Belpointe Asset Management LLC trimmed its stake in shares of American Tower Corporation (NYSE:AMT) by 10.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,375 shares of the real estate investment trust’s stock after selling 749 shares during the quarter. Belpointe Asset Management LLC’s holdings in American Tower were worth $1,409,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AMT. Nuveen LLC bought a new position in American Tower during the 1st quarter valued at $991,525,000. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $1,772,144,000 after buying an additional 2,309,627 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of American Tower by 272.0% in the 1st 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 last quarter. Alyeska Investment Group L.P. bought a new position in shares of American Tower in the 1st quarter worth about $162,127,000. Finally, Amundi lifted its position in shares of American Tower by 35.5% in the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after buying an additional 743,617 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 0.6%

American Tower stock opened at $186.71 on Wednesday. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The company’s 50-day moving average price is $200.19 and its two-hundred day moving average price is $211.34. The stock has a market cap of $87.43 billion, a price-to-earnings ratio of 67.89, a PEG ratio of 1.15 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, beating the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm posted $2.79 EPS. The business’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. On average, analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors 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 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the firm’s 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 in the company, 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AMT shares. Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. BMO Capital Markets restated an “outperform” rating and issued a $245.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Wall Street Zen downgraded shares of American Tower from a “hold” rating to a “sell” rating in a research report on Saturday. JPMorgan Chase & Co. raised their price target on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $242.07.

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.