American Tower Corporation $AMT Shares Sold by Baskin Financial Services Inc.

Baskin Financial Services Inc. decreased its position in shares of American Tower Corporation (NYSE:AMT) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,891 shares of the real estate investment trust’s stock after selling 462 shares during the quarter. Baskin Financial Services Inc.’s holdings in American Tower were worth $5,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of American Tower by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock worth $13,667,344,000 after purchasing an additional 434,118 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after purchasing an additional 2,309,627 shares during the period. Deutsche Bank AG lifted its holdings in American Tower by 4.0% in the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after acquiring an additional 285,195 shares during the period. Dimensional Fund Advisors LP lifted its holdings in American Tower by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock valued at $1,421,965,000 after acquiring an additional 88,120 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in American Tower by 3.7% in the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock valued at $1,335,407,000 after acquiring an additional 220,565 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.2%

American Tower stock opened at $185.16 on Friday. The stock has a market capitalization of $86.70 billion, a PE ratio of 67.33, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The business has a 50 day simple moving average of $199.26 and a 200-day simple moving average of $210.97. 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 posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business’s revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 30th. American Tower’s payout ratio is presently 247.27%.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was 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. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMT shares. Wall Street Zen downgraded American Tower from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. UBS Group boosted their price target on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Wells Fargo & Company decreased their price target on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. boosted their price target on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $242.07.

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.