Wendell David Associates Inc. Has $7.85 Million Stake in American Tower Corporation $AMT

Wendell David Associates Inc. decreased its holdings in American Tower Corporation (NYSE:AMT) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,518 shares of the real estate investment trust’s stock after selling 485 shares during the quarter. Wendell David Associates Inc.’s holdings in American Tower were worth $7,850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. North Capital Inc. acquired a new stake in American Tower in the 1st quarter worth about $25,000. Hopwood Financial Services Inc. raised its stake in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower in the 1st quarter worth about $31,000. Rosenberg Matthew Hamilton raised its stake in American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, Saudi Central Bank acquired a new stake in American Tower in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other American Tower 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 sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.17% of the stock is owned by insiders.

American Tower Trading Up 0.1%

Shares of American Tower stock opened at $191.60 on Friday. The firm has a market capitalization of $89.72 billion, a PE ratio of 69.67, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm’s 50 day moving average is $196.63 and its 200 day moving average is $209.83. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm’s revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s payout ratio is presently 247.27%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMT. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Jefferies Financial Group dropped their target price on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Barclays boosted their target price on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Wells Fargo & Company dropped their target price on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $238.00.

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.