American Tower Corporation $AMT Shares Sold by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB significantly reduced its holdings in American Tower Corporation by 96.4%, selling 182,148 shares and now owning only 6,880 shares valued at $1,541,000.
• American Tower announced a quarterly dividend of $1.70, which is set to be paid on October 20th, representing a 3.6% dividend yield.
• The company's latest earnings report revealed a net income margin of 12.60% with revenue of $2.63 billion, though this represented a 9.4% decline year-over-year.

AMF Tjanstepension AB cut its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 96.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,880 shares of the real estate investment trust's stock after selling 182,148 shares during the quarter. AMF Tjanstepension AB's holdings in American Tower were worth $1,541,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMT. Brighton Jones LLC raised its holdings in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after purchasing an additional 2,104 shares in the last quarter. NBC Securities Inc. raised its holdings in shares of American Tower by 150,100.0% in the 1st quarter. NBC Securities Inc. now owns 1,502 shares of the real estate investment trust's stock valued at $326,000 after purchasing an additional 1,501 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of American Tower by 19.1% in the 1st quarter. Merit Financial Group LLC now owns 8,186 shares of the real estate investment trust's stock valued at $1,781,000 after purchasing an additional 1,312 shares in the last quarter. Breakwater Capital Group acquired a new stake in shares of American Tower in the 1st quarter valued at $213,000. Finally, Annex Advisory Services LLC acquired a new stake in shares of American Tower in the 1st quarter valued at $230,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Down 0.6%

AMT stock opened at $190.10 on Friday. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The stock has a market capitalization of $89.01 billion, a PE ratio of 69.13, a price-to-earnings-growth ratio of 1.17 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. The company has a fifty day moving average of $201.53 and a 200-day moving average of $211.75.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. During the same quarter last year, the business earned $2.79 EPS. The business's revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

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

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer 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 Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AMT has been the topic of a number of analyst reports. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Wells Fargo & Company dropped their target price on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the company a "sector perform" rating in a research report on Wednesday. Wall Street Zen downgraded shares of American Tower from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, UBS Group increased their target price on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $242.07.

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.

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