Janus Henderson Group PLC Sells 143,618 Shares of American Tower Corporation $AMT

Janus Henderson Group PLC trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 70.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,462 shares of the real estate investment trust’s stock after selling 143,618 shares during the quarter. Janus Henderson Group PLC’s holdings in American Tower were worth $10,589,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AMT. Oddo BHF Asset Management Sas lifted its holdings in shares of American Tower by 4.2% during the 1st quarter. Oddo BHF Asset Management Sas now owns 34,704 shares of the real estate investment trust’s stock valued at $5,989,000 after purchasing an additional 1,402 shares during the last quarter. Strategic Investment Advisors MI lifted its holdings in shares of American Tower by 317.1% during the first quarter. Strategic Investment Advisors MI now owns 12,530 shares of the real estate investment trust’s stock worth $2,165,000 after purchasing an additional 9,526 shares during the period. Arkadios Wealth Advisors lifted its stake in American Tower by 7.5% during the 1st quarter. Arkadios Wealth Advisors now owns 2,141 shares of the real estate investment trust’s stock valued at $369,000 after acquiring an additional 149 shares during the period. IFS Group LLC purchased a new stake in American Tower in the first quarter valued at $254,000. Finally, Amundi boosted its stake in shares of American Tower by 21.0% in the first quarter. Amundi now owns 3,830,533 shares of the real estate investment trust’s stock worth $661,056,000 after buying an additional 663,976 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at $4,848,316.56. This represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,791 shares of company stock worth $1,204,091. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. BMO Capital Markets raised their price target on shares of American Tower from $190.00 to $195.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price objective on American Tower in a research note on Tuesday, July 28th. Mizuho raised shares of American Tower from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $189.00 to $205.00 in a research note on Wednesday, April 15th. Citizens Jmp reissued a “market outperform” rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, April 29th. Finally, Wolfe Research upgraded American Tower from a “peer perform” rating to an “outperform” rating and set a $188.00 price objective on the stock in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.19.

American Tower Price Performance

AMT stock opened at $175.28 on Wednesday. American Tower Corporation has a 1 year low of $160.06 and a 1 year high of $214.79. The business’s 50-day moving average is $175.46 and its two-hundred day moving average is $178.42. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $81.66 billion, a P/E ratio of 24.11, a P/E/G ratio of 2.77 and a beta of 0.90.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, June 12th. American Tower’s dividend payout ratio is 98.49%.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.