Vontobel Holding Ltd. Lowers Position in American Tower Corporation $AMT

Vontobel Holding Ltd. cut its holdings in American Tower Corporation (NYSE:AMT) by 5.5% in the second quarter, Holdings Channel reports. The fund owned 1,073,068 shares of the real estate investment trust’s stock after selling 62,927 shares during the quarter. Vontobel Holding Ltd.’s holdings in American Tower were worth $237,169,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMT. Brighton Jones LLC lifted its stake in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 2,104 shares during the period. First Citizens Bank & Trust Co. lifted its position in shares of American Tower by 6.5% during the first quarter. First Citizens Bank & Trust Co. now owns 1,939 shares of the real estate investment trust’s stock valued at $422,000 after buying an additional 119 shares during the last quarter. City Holding Co. purchased a new stake in shares of American Tower during the first quarter valued at about $39,000. Farther Finance Advisors LLC lifted its position in shares of American Tower by 43.2% during the first quarter. Farther Finance Advisors LLC now owns 3,233 shares of the real estate investment trust’s stock valued at $710,000 after buying an additional 975 shares during the last quarter. Finally, Signet Financial Management LLC lifted its position in shares of American Tower by 24.4% during the first quarter. Signet Financial Management LLC now owns 6,898 shares of the real estate investment trust’s stock valued at $1,501,000 after buying an additional 1,351 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, 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 sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. Wells Fargo & Company decreased their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. BMO Capital Markets reissued an “outperform” rating and set a $245.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. UBS Group increased their price target on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.07.

American Tower Price Performance

Shares of NYSE:AMT opened at $185.46 on Thursday. The company has a market cap of $86.84 billion, a PE ratio of 67.44, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The company’s 50 day moving average is $199.72 and its 200 day moving average is $211.16. 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 (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business’s revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

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.