American Tower Corporation $AMT Shares Acquired by Mitchell Sinkler & Starr PA

Mitchell Sinkler & Starr PA grew its stake in American Tower Corporation (NYSE:AMT) by 4.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,398 shares of the real estate investment trust’s stock after purchasing an additional 144 shares during the period. Mitchell Sinkler & Starr PA’s holdings in American Tower were worth $751,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMT. Vanguard Group Inc. raised its position in American Tower by 0.7% in the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock worth $13,667,344,000 after acquiring an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 acquiring an additional 2,309,627 shares in the last quarter. Deutsche Bank AG raised its position in American Tower by 4.0% in the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock worth $1,606,621,000 after acquiring an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP raised its position in American Tower by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock worth $1,421,965,000 after acquiring an additional 88,120 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in American Tower by 3.7% in the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock worth $1,335,407,000 after acquiring an additional 220,565 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.7%

Shares of AMT stock opened at $186.60 on Friday. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The stock has a market cap of $87.38 billion, a P/E ratio of 67.85, a P/E/G ratio of 1.13 and a beta of 0.86. The business has a fifty day simple moving average of $198.75 and a 200-day simple moving average of $210.82. 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 data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research report on Sunday. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. BMO Capital Markets restated an “outperform” rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Finally, HSBC cut American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $242.07.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the 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 sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by 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.