American Tower Corporation $AMT Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN trimmed its stake in shares of American Tower Corporation (NYSE:AMT) by 4.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,686 shares of the real estate investment trust’s stock after selling 340 shares during the quarter. OLD National Bancorp IN’s holdings in American Tower were worth $1,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. North Capital Inc. bought a new stake in American Tower in the first quarter valued at $25,000. Hopwood Financial Services Inc. grew its position in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower in the 1st quarter worth about $31,000. City Holding Co. bought a new stake in American Tower in the 1st quarter valued at about $39,000. Finally, Saudi Central Bank bought a new position in American Tower in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the 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 directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMT shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 price target (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on American Tower and gave the company a “strong-buy” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. HSBC cut American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company reduced their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company 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 given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $242.07.

American Tower Stock Down 2.5%

Shares of AMT stock opened at $185.46 on Tuesday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The business’s fifty day moving average is $200.75 and its 200-day moving average is $211.51. The stock has a market cap of $86.84 billion, a PE ratio of 67.44, a price-to-earnings-growth ratio of 1.17 and a beta of 0.86.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating 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 quarter last year, the business posted $2.79 earnings per share. The company’s quarterly revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders 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 annualized dividend and a dividend yield of 3.7%. American Tower’s payout ratio 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.