American Tower Corporation $AMT Shares Sold by Bayforest Capital Ltd

Bayforest Capital Ltd trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 56.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 642 shares of the real estate investment trust’s stock after selling 847 shares during the quarter. Bayforest Capital Ltd’s holdings in American Tower were worth $142,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in American Tower by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock valued at $13,667,344,000 after purchasing an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $1,772,144,000 after purchasing an additional 2,309,627 shares during the last quarter. Deutsche Bank AG raised its stake in American Tower by 4.0% in the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after purchasing an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in American Tower by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock valued at $1,421,965,000 after purchasing an additional 88,120 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in American Tower by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock valued at $1,335,407,000 after purchasing an additional 220,565 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other 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 completion of the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. Morgan Stanley dropped their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday. Barclays upped their target price on American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a report on Friday. Jefferies Financial Group dropped their target price on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, Wells Fargo & Company dropped their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $238.00.

American Tower Stock Performance

NYSE AMT opened at $191.60 on Friday. The stock has a market cap of $89.72 billion, a PE ratio of 69.67, a P/E/G ratio of 1.16 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The stock has a fifty day simple moving average of $196.63 and a 200-day simple moving average of $209.89.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company’s revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. American Tower’s dividend 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.