American Tower Corporation $AMT Shares Sold by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC reduced its stake in American Tower Corporation by 16.7%, owning 30,301 shares valued at approximately $6.98 million following the sale of 6,077 shares.
• After recent analyst assessments, Morgan Stanley and Jefferies Financial Group have lowered their price targets to $235.00 and $226.00, respectively, while ten analysts maintain a "buy" rating for the stock.
• American Tower announced a quarterly dividend of $1.70 per share, with an annualized yield of 3.5%, despite a high dividend payout ratio of 247.27%.

Chicago Partners Investment Group LLC trimmed its position in American Tower Corporation (NYSE:AMT - Free Report) by 16.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,301 shares of the real estate investment trust's stock after selling 6,077 shares during the quarter. Chicago Partners Investment Group LLC's holdings in American Tower were worth $6,975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. North Capital Inc. acquired a new stake in American Tower during the first quarter worth $25,000. Hopwood Financial Services Inc. grew its holdings 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 period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower during the 1st quarter worth about $31,000. Rosenberg Matthew Hamilton raised its holdings in American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 80 shares during the period. Finally, Saudi Central Bank acquired a new position in American Tower in the first quarter valued at about $40,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMT. Morgan Stanley reduced their price target on shares of American Tower from $270.00 to $235.00 and set an "overweight" rating on the stock in a research note on Thursday. Jefferies Financial Group dropped their target price on shares of American Tower from $281.00 to $226.00 and set a "buy" rating for the company in a report on Monday, October 13th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the stock a "sector perform" rating in a research note on Wednesday, October 1st. Citigroup dropped their price objective on American Tower from $250.00 to $225.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of American Tower in a research note on Wednesday, October 8th. Two 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $238.00.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

American Tower Stock Up 0.1%

Shares of NYSE AMT opened at $191.60 on Friday. The stock has a market cap of $89.72 billion, a P/E ratio of 69.67, a PEG ratio of 1.16 and a beta of 0.86. The business's fifty day simple moving average is $196.63 and its 200-day simple moving average is $209.83. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. 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 - 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. The firm had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower's revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.5%. American Tower's dividend payout ratio (DPR) is 247.27%.

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.

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