Private Trust Co. NA Has $1.17 Million Stock Position in American Tower Corporation $AMT

Private Trust Co. NA cut its stake in shares of American Tower Corporation (NYSE:AMT) by 10.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,289 shares of the real estate investment trust’s stock after selling 639 shares during the quarter. Private Trust Co. NA’s holdings in American Tower were worth $1,169,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. North Capital Inc. acquired a new position in American Tower in the 1st quarter worth about $25,000. Hopwood Financial Services Inc. increased its stake in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower in the first quarter valued at approximately $31,000. Rosenberg Matthew Hamilton boosted its position in American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 80 shares during the period. Finally, Saudi Central Bank bought a new stake in American Tower during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.1%

Shares of American Tower stock opened at $191.60 on Friday. The stock’s 50-day moving average is $196.63 and its 200 day moving average is $209.89. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The firm has a market cap of $89.72 billion, a price-to-earnings ratio of 69.67, a PEG ratio of 1.16 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. The firm 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 company’s revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.5%. American Tower’s dividend payout ratio is currently 247.27%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AMT. 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. UBS Group lifted their target price on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. Finally, HSBC downgraded 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 report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $238.00.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction on Thursday, July 31st. The shares were 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 directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

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.