American Tower Corporation $AMT Shares Sold by Sigma Planning Corp

Sigma Planning Corp trimmed its stake in American Tower Corporation (NYSE:AMT) by 35.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,024 shares of the real estate investment trust’s stock after selling 1,682 shares during the period. Sigma Planning Corp’s holdings in American Tower were worth $668,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State of Michigan Retirement System boosted its stake in American Tower by 6.9% in the second quarter. State of Michigan Retirement System now owns 135,484 shares of the real estate investment trust’s stock valued at $29,945,000 after acquiring an additional 8,700 shares in the last quarter. iA Global Asset Management Inc. boosted its position in shares of American Tower by 226.8% in the 2nd quarter. iA Global Asset Management Inc. now owns 3,448 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 2,393 shares during the period. Mission Wealth Management LP grew its stake in American Tower by 6.3% during the 2nd quarter. Mission Wealth Management LP now owns 3,239 shares of the real estate investment trust’s stock worth $716,000 after buying an additional 191 shares during the last quarter. Accuvest Global Advisors acquired a new position in American Tower during the second quarter worth approximately $2,644,000. Finally, Plato Investment Management Ltd increased its position in American Tower by 8.7% during the second quarter. Plato Investment Management Ltd now owns 12,602 shares of the real estate investment trust’s stock worth $2,775,000 after buying an additional 1,009 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Tower

In related news, Director Eugene F. Reilly purchased 5,554 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

American Tower Trading Down 0.1%

NYSE AMT opened at $177.86 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The stock has a market capitalization of $83.28 billion, a P/E ratio of 28.41, a P/E/G ratio of 1.08 and a beta of 0.85. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The firm has a 50-day moving average price of $189.98 and a 200 day moving average price of $206.61.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is presently 108.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMT shares. Jefferies Financial Group decreased their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a report on Monday, October 13th. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. The Goldman Sachs Group lowered their price target on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, BMO Capital Markets reduced their price objective on American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $231.11.

About American Tower

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.