American Tower Corporation $AMT Holdings Lessened by LDR Capital Management LLC

LDR Capital Management LLC lowered its stake in shares of American Tower Corporation (NYSE:AMT) by 30.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,960 shares of the real estate investment trust’s stock after selling 6,576 shares during the period. American Tower makes up approximately 4.3% of LDR Capital Management LLC’s investment portfolio, making the stock its 6th largest position. LDR Capital Management LLC’s holdings in American Tower were worth $3,306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Sendero Wealth Management LLC boosted its position in shares of American Tower by 20.2% during the second quarter. Sendero Wealth Management LLC now owns 1,204 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 202 shares during the period. Valeo Financial Advisors LLC boosted its holdings in American Tower by 2,866.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 275,732 shares of the real estate investment trust’s stock valued at $60,942,000 after acquiring an additional 266,436 shares during the period. Knights of Columbus Asset Advisors LLC grew its position in American Tower by 25.5% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 101,810 shares of the real estate investment trust’s stock valued at $22,502,000 after acquiring an additional 20,698 shares in the last quarter. DAVENPORT & Co LLC grew its position in American Tower by 41.0% in the 2nd quarter. DAVENPORT & Co LLC now owns 872,074 shares of the real estate investment trust’s stock valued at $191,796,000 after acquiring an additional 253,708 shares in the last quarter. Finally, Grimes & Company Inc. increased its stake in American Tower by 13.5% during the second quarter. Grimes & Company Inc. now owns 1,228 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 146 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were 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 owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. 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. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research note on Saturday, September 27th. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Barclays boosted their target price on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Finally, Raymond James Financial set a $250.00 price target on American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Two investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $242.07.

American Tower Stock Performance

NYSE:AMT opened at $190.10 on Monday. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $89.01 billion, a PE ratio of 69.13, a price-to-earnings-growth ratio of 1.17 and a beta of 0.86. The business’s fifty day moving average price is $201.53 and its 200 day moving average price is $211.73.

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

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio is currently 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.