Viawealth LLC Reduces Holdings in American Tower Corporation $AMT

Viawealth LLC lowered its stake in shares of American Tower Corporation (NYSE:AMT) by 26.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,920 shares of the real estate investment trust’s stock after selling 688 shares during the quarter. Viawealth LLC’s holdings in American Tower were worth $424,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of AMT. Focus Financial Network Inc. raised its stake in shares of American Tower by 9.1% in the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 170 shares during the last quarter. Resolution Capital Ltd acquired a new position in American Tower in the 1st quarter worth approximately $72,706,000. Stack Financial Management Inc purchased a new position in American Tower during the 2nd quarter worth approximately $13,020,000. Los Angeles Capital Management LLC lifted its stake in American Tower by 52.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock valued at $71,094,000 after acquiring an additional 110,671 shares during the period. Finally, Nordea Investment Management AB lifted its stake in American Tower by 1.0% during the 2nd quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock valued at $334,430,000 after acquiring an additional 15,920 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

NYSE AMT opened at $179.68 on Wednesday. The stock has a market capitalization of $84.12 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.08 and a beta of 0.85. The stock has a 50-day moving average of $186.36 and a 200 day moving average of $203.23. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24. American Tower Corporation has a twelve month low of $172.51 and a twelve month 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. 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 during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the business earned $2.52 earnings per share. The business’s revenue 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. Sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Insider Activity

In related 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 price of $178.99 per share, with a total value of $994,110.46. Following the completion of the purchase, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AMT has been the subject of several recent research reports. Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the stock a “sector perform” rating in a report on Wednesday, October 1st. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. UBS Group reiterated a “buy” rating and set a $260.00 price objective on shares of American Tower in a research note on Wednesday, October 29th. Citigroup restated a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Finally, BMO Capital Markets dropped their target price on American Tower from $220.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target 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.