American Tower Corporation $AMT Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc decreased its holdings in shares of American Tower Corporation (NYSE:AMT) by 14.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 112,455 shares of the real estate investment trust’s stock after selling 18,524 shares during the quarter. Impax Asset Management Group plc’s holdings in American Tower were worth $24,855,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AMT. Hopwood Financial Services Inc. lifted its position in shares of American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the 2nd quarter valued at $31,000. Rosenberg Matthew Hamilton raised its stake in American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Saudi Central Bank purchased a new stake in American Tower in the first quarter valued at $40,000. Finally, Accredited Wealth Management LLC boosted its stake in American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 135 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of $178.99 per share, with a total value of $994,110.46. Following the purchase, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMT. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Wells Fargo & Company dropped their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating and set a $260.00 price target on shares of American Tower in a research report on Wednesday, October 29th. Argus set a $210.00 price objective on American Tower in a report on Thursday, October 30th. Finally, Barclays raised their target price on shares of American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.11.

American Tower Stock Down 0.8%

AMT opened at $183.34 on Thursday. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The business has a 50 day moving average price of $188.94 and a two-hundred day moving average price of $205.91. 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 company has a market cap of $85.83 billion, a PE ratio of 29.29, a P/E/G ratio of 1.08 and a beta of 0.85.

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

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is 108.63%.

American Tower Company 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.