American Tower Corporation $AMT Shares Sold by DNB Asset Management AS

DNB Asset Management AS reduced its holdings in American Tower Corporation (NYSE:AMT) by 7.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,356 shares of the real estate investment trust’s stock after selling 8,488 shares during the quarter. DNB Asset Management AS’s holdings in American Tower were worth $25,054,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AMT. Nuveen LLC bought a new stake in shares of American Tower during the first quarter valued at about $991,525,000. Price T Rowe Associates Inc. MD increased its stake in American Tower by 39.6% during 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 buying an additional 2,309,627 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of American Tower during the 1st quarter worth about $162,127,000. Amundi lifted its stake in shares of American Tower by 35.5% in the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after acquiring an additional 743,617 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of American Tower by 490.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock valued at $141,612,000 after acquiring an additional 540,648 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the purchase, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. This trade represents a 4,114.07% increase 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. 0.17% of the stock is currently owned by company insiders.

American Tower Trading Up 0.2%

NYSE:AMT opened at $179.56 on Friday. The stock has a fifty day simple moving average of $186.92 and a 200 day simple moving average of $204.03. 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 firm has a market capitalization of $84.06 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33.

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

American Tower Dividend Announcement

The company also recently disclosed 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 yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is presently 108.63%.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Jefferies Financial Group dropped their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Wells Fargo & Company cut their price objective on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $231.00 target price (down from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Finally, Citigroup reissued a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.44.

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.