International Assets Investment Management LLC Sells 188 Shares of American Tower Corporation $AMT

International Assets Investment Management LLC lessened its holdings in shares of American Tower Corporation (NYSE:AMT) by 5.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,054 shares of the real estate investment trust’s stock after selling 188 shares during the period. International Assets Investment Management LLC’s holdings in American Tower were worth $675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. North Capital Inc. bought a new position in American Tower during the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. raised its position in 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 valued at $26,000 after acquiring an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of American Tower in the first quarter valued at approximately $31,000. Rosenberg Matthew Hamilton raised its position in shares of American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 80 shares during the period. Finally, Saudi Central Bank bought a new position in shares of American Tower in the first quarter valued at approximately $40,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.8%

Shares of AMT stock opened at $192.89 on Tuesday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The firm’s fifty day simple moving average is $196.37 and its 200 day simple moving average is $209.51. The firm has a market capitalization of $90.32 billion, a P/E ratio of 70.14, 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.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (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 for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the firm posted $2.79 earnings per share. American Tower’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. As a group, sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is 247.27%.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated 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 in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Wells Fargo & Company dropped their price target on shares of American Tower from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Citigroup dropped their price target on shares of American Tower from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Finally, Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $236.75.

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.