American Tower Corporation $AMT Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management lowered its stake in shares of American Tower Corporation (NYSE:AMT) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,482 shares of the real estate investment trust’s stock after selling 625 shares during the quarter. Bar Harbor Wealth Management’s holdings in American Tower were worth $5,190,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Focus Financial Network Inc. boosted its position in American Tower by 9.1% during the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 170 shares during the period. Resolution Capital Ltd acquired a new position in American Tower during the 1st quarter worth $72,706,000. Golden State Wealth Management LLC boosted its position in American Tower by 23.0% during the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 69 shares during the period. Shum Financial Group Inc. boosted its position in American Tower by 3.5% during the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock worth $913,000 after acquiring an additional 141 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its position in American Tower by 126.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock worth $21,215,000 after acquiring an additional 54,360 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was 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 represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMT shares. Barclays boosted their price target on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price target on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Raymond James Financial set a $250.00 price objective on American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Two research 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $242.07.

American Tower Trading Down 0.8%

Shares of American Tower stock opened at $185.46 on Thursday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The firm has a market cap of $86.84 billion, a price-to-earnings ratio of 67.44, a price-to-earnings-growth ratio of 1.15 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 business has a fifty day simple moving average of $199.72 and a 200-day simple moving average of $211.16.

American Tower (NYSE:AMT) last announced its 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. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the business posted $2.79 earnings per share. American Tower’s revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

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 of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio is currently 247.27%.

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.