American Tower Corporation $AMT Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lessened its position in American Tower Corporation (NYSE:AMT) by 4.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,055 shares of the real estate investment trust’s stock after selling 184 shares during the period. Pittenger & Anderson Inc.’s holdings in American Tower were worth $896,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Focus Financial Network Inc. lifted 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 valued at $451,000 after purchasing an additional 170 shares during the period. Resolution Capital Ltd acquired a new stake in shares of American Tower in the first quarter valued at about $72,706,000. Stack Financial Management Inc acquired a new stake in shares of American Tower in the second quarter valued at about $13,020,000. Golden State Wealth Management LLC lifted its stake in shares of American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 69 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of American Tower by 126.0% in the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after purchasing an additional 54,360 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related 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 value of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. 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 research report on Wednesday, October 1st. JPMorgan Chase & Co. lifted their target price 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. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group cut 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. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $236.75.

American Tower Stock Performance

Shares of NYSE AMT opened at $192.35 on Wednesday. The company has a market cap of $90.07 billion, a PE ratio of 69.95, a price-to-earnings-growth ratio of 1.17 and a beta of 0.86. 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 company has a 50-day simple moving average of $196.13 and a 200-day simple moving average of $209.39.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping 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 business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm posted $2.79 earnings per share. The company’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, equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is presently 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.