Catalyst Capital Advisors LLC Decreases Stock Holdings in American Tower Corporation $AMT

Catalyst Capital Advisors LLC reduced its stake in shares of American Tower Corporation (NYSE:AMT) by 42.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 907 shares of the real estate investment trust’s stock after selling 673 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in American Tower were worth $200,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. North Capital Inc. purchased a new stake in shares of American Tower during the 1st quarter worth $25,000. Hopwood Financial Services Inc. lifted its stake in shares of American Tower by 100.0% during 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 during the last quarter. Rosenberg Matthew Hamilton lifted its stake in shares of American Tower by 86.0% during 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 during the last quarter. Saudi Central Bank purchased a new stake in shares of American Tower during the 1st quarter worth $40,000. Finally, Accredited Wealth Management LLC lifted its stake in shares of American Tower by 180.0% during the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the firm’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 transaction, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMT has been the subject of a number of analyst reports. UBS Group upped their price objective on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. BMO Capital Markets decreased their price target on American Tower from $245.00 to $220.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Finally, Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $236.75.

American Tower Trading Up 0.6%

Shares of NYSE:AMT opened at $191.36 on Friday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The stock has a market cap of $89.60 billion, a price-to-earnings ratio of 69.58, a PEG ratio of 1.15 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The business has a 50-day moving average price of $195.30 and a 200-day moving average price of $209.02.

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

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

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.