Belpointe Asset Management LLC Sells 749 Shares of American Tower Corporation $AMT

Belpointe Asset Management LLC lessened its holdings in American Tower Corporation (NYSE:AMT) by 10.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,375 shares of the real estate investment trust’s stock after selling 749 shares during the period. Belpointe Asset Management LLC’s holdings in American Tower were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of American Tower by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock valued at $13,667,344,000 after purchasing an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after purchasing an additional 2,309,627 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of American Tower by 4.0% in the 1st 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 purchasing an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of American Tower by 1.4% in the 1st 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 purchasing an additional 88,120 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of American Tower by 3.7% in the 1st 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 purchasing an additional 220,565 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock opened at $186.71 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The company has a market cap of $87.43 billion, a PE ratio of 67.89, a PEG ratio of 1.15 and a beta of 0.86. The company’s 50-day moving average is $200.19 and its two-hundred day moving average is $211.34.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company posted $2.79 EPS. The company’s 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. Equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.6%. American Tower’s dividend payout ratio is 247.27%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of American Tower in a research report on Saturday, September 27th. BMO Capital Markets reiterated an “outperform” rating and set a $245.00 price target (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Barclays upped their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Finally, Wells Fargo & Company reduced their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $242.07.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.