Chilton Capital Management LLC Sells 1,415 Shares of American Tower Corporation $AMT

Chilton Capital Management LLC cut its position in shares of American Tower Corporation (NYSE:AMT) by 1.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,593 shares of the real estate investment trust’s stock after selling 1,415 shares during the quarter. Chilton Capital Management LLC’s holdings in American Tower were worth $20,159,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Nuveen LLC bought a new stake in American Tower during the 1st quarter worth about $991,525,000. Price T Rowe Associates Inc. MD raised its holdings in American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after acquiring an additional 2,309,627 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in American Tower during the first quarter valued at approximately $162,127,000. Amundi grew its stake in shares of American Tower by 35.5% in the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after buying an additional 743,617 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of American Tower by 490.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock valued at $141,612,000 after acquiring an additional 540,648 shares during the period. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMT shares. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research report on Friday. Barclays increased their price target on American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. BMO Capital Markets dropped their price objective on shares of American Tower from $245.00 to $220.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. UBS Group increased their price target on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Morgan Stanley lowered their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Two equities 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.75.

American Tower Price Performance

AMT stock opened at $191.36 on Friday. 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 firm has a market cap of $89.60 billion, a P/E ratio of 69.58, a P/E/G ratio of 1.16 and a beta of 0.86. The company’s 50-day moving average price is $195.30 and its two-hundred day moving average price is $209.06. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last posted its 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. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Juan Font sold 720 shares of American Tower 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 of the company’s stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.17% of the company’s stock.

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.