American Tower Corporation $AMT Shares Sold by Burling Wealth Partners LLC

Burling Wealth Partners LLC lowered its stake in American Tower Corporation (NYSE:AMT) by 11.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,871 shares of the real estate investment trust’s stock after selling 2,695 shares during the quarter. Burling Wealth Partners LLC’s holdings in American Tower were worth $4,392,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of AMT. Vanguard Group Inc. raised its stake in 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 during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 acquiring an additional 2,309,627 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of American Tower by 4.0% during the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock worth $1,606,621,000 after purchasing an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in American Tower by 1.4% in the first 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 during the last quarter. Finally, Invesco Ltd. lifted its position in American Tower by 0.5% during the first quarter. Invesco Ltd. now owns 5,971,716 shares of the real estate investment trust’s stock worth $1,299,445,000 after buying an additional 30,130 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of several recent analyst reports. BMO Capital Markets cut their price objective on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Jefferies Financial Group lowered their price objective on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Morgan Stanley lowered their price target on American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. The Goldman Sachs Group cut their price objective on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $231.11.

Insider Transactions at American Tower

In other news, Director Eugene F. Reilly bought 5,554 shares of American Tower stock in a transaction on Friday, October 31st. The shares were bought at an average price of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

American Tower Stock Down 1.3%

Shares of American Tower stock opened at $181.02 on Friday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The business has a 50-day moving average of $188.66 and a 200-day moving average of $205.73. The company has a market capitalization of $84.74 billion, a PE ratio of 28.92, a P/E/G ratio of 1.08 and a beta of 0.85.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.American Tower’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is 108.63%.

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.