AlTi Global Inc. Sells 263 Shares of American Tower Corporation $AMT

AlTi Global Inc. trimmed its stake in American Tower Corporation (NYSE:AMT) by 4.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,439 shares of the real estate investment trust’s stock after selling 263 shares during the quarter. AlTi Global Inc.’s holdings in American Tower were worth $1,212,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in AMT. Brighton Jones LLC boosted its holdings in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 2,104 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of American Tower by 9.0% in the first quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust’s stock worth $1,702,000 after purchasing an additional 648 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of American Tower by 643.0% in the first quarter. Golden State Wealth Management LLC now owns 2,229 shares of the real estate investment trust’s stock worth $485,000 after purchasing an additional 1,929 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of American Tower by 1.6% in the first quarter. Sequoia Financial Advisors LLC now owns 9,244 shares of the real estate investment trust’s stock worth $2,012,000 after purchasing an additional 148 shares during the last quarter. Finally, Balefire LLC raised its stake in shares of American Tower by 18.3% in the first quarter. Balefire LLC now owns 1,400 shares of the real estate investment trust’s stock worth $305,000 after purchasing an additional 217 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

American Tower Stock Up 0.6%

American Tower stock opened at $191.36 on Friday. The stock has a market cap of $89.60 billion, a PE ratio of 69.58, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The stock has a fifty day moving average of $195.30 and a 200 day moving average of $209.02.

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

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s payout ratio is currently 247.27%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. Barclays boosted their price target on American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Jefferies Financial Group decreased their price target on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. UBS Group boosted their price target on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.75.

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.