American Tower Corporation $AMT Shares Sold by Optas LLC

Optas LLC reduced its position in shares of American Tower Corporation (NYSE:AMT) by 7.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,364 shares of the real estate investment trust’s stock after selling 190 shares during the period. Optas LLC’s holdings in American Tower were worth $522,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AMT. North Capital Inc. acquired a new stake in shares of American Tower during the first quarter valued at about $25,000. Hopwood Financial Services Inc. increased its position in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower during the first quarter valued at about $31,000. City Holding Co. acquired a new stake in shares of American Tower during the first quarter valued at about $39,000. Finally, Saudi Central Bank acquired a new stake in shares of American Tower during the first quarter valued at about $40,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMT has been the subject of a number of research reports. 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 report on Wednesday, October 1st. HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a report on Wednesday, July 30th. Wells Fargo & Company dropped their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Barclays lifted their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Finally, Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $242.07.

Insider Activity at American Tower

In other 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 transaction, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is owned by insiders.

American Tower Stock Down 0.8%

Shares of NYSE:AMT opened at $185.46 on Thursday. The company has a market capitalization of $86.84 billion, a PE ratio of 67.44, a P/E/G ratio of 1.15 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The firm has a 50 day simple moving average of $199.72 and a 200-day simple moving average of $211.16.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company’s revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s payout ratio is presently 247.27%.

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.