American Tower Corporation $AMT Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lessened its position in American Tower Corporation (NYSE:AMT) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,054 shares of the real estate investment trust’s stock after selling 188 shares during the period. International Assets Investment Management LLC’s holdings in American Tower were worth $675,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. United Bank increased its holdings in shares of American Tower by 12.7% in the 2nd quarter. United Bank now owns 6,488 shares of the real estate investment trust’s stock worth $1,434,000 after acquiring an additional 733 shares during the period. Spirit of America Management Corp NY increased its stake in American Tower by 26.2% during the 2nd quarter. Spirit of America Management Corp NY now owns 2,170 shares of the real estate investment trust’s stock valued at $480,000 after buying an additional 450 shares during the period. Chevy Chase Trust Holdings LLC increased its stake in American Tower by 1.1% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 247,936 shares of the real estate investment trust’s stock valued at $54,799,000 after buying an additional 2,802 shares during the period. Easterly Investment Partners LLC acquired a new position in American Tower during the 2nd quarter valued at about $18,654,000. Finally, Arista Wealth Management LLC acquired a new position in American Tower during the 2nd quarter valued at about $232,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $192.89 on Tuesday. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The company has a 50-day moving average of $196.37 and a two-hundred day moving average of $209.51. The stock has a market cap of $90.32 billion, a price-to-earnings ratio of 70.14, 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 announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the company posted $2.79 earnings per share. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

Analyst Upgrades and Downgrades

AMT has been the topic of several research analyst reports. Raymond James Financial set a $250.00 target price 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 price objective on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Barclays lifted their price objective on shares of American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $236.75.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.