American Tower Corporation $AMT Shares Sold by Greenleaf Trust

Key Points

• Greenleaf Trust has reduced its holdings in American Tower Corporation by 33.3%, selling 58,537 shares, which are now valued at approximately $25.9 million.
• The company reported $2.60 earnings per share for the latest quarter, exceeding expectations, but noted a 9.4% decline in revenue year-over-year.
• American Tower recently announced a quarterly dividend of $1.70 per share, yielding 3.5%, although its dividend payout ratio stands at a high 247.27%.

Greenleaf Trust lowered its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 33.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,287 shares of the real estate investment trust's stock after selling 58,537 shares during the quarter. Greenleaf Trust's holdings in American Tower were worth $25,923,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. North Capital Inc. purchased a new stake in shares of American Tower in the first quarter worth about $25,000. Hopwood Financial Services Inc. lifted its holdings in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower in the 1st quarter worth approximately $31,000. City Holding Co. acquired a new stake in shares of American Tower during the 1st quarter worth approximately $39,000. Finally, Saudi Central Bank purchased a new position in shares of American Tower during the 1st quarter valued at approximately $40,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

NYSE AMT opened at $194.37 on Tuesday. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $91.01 billion, a P/E ratio of 70.68, a P/E/G ratio of 1.20 and a beta of 0.86. The stock has a 50-day moving average of $204.68 and a two-hundred day moving average of $212.36. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.47.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $2.63 billion for 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 quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. American Tower's dividend payout ratio is currently 247.27%.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent analyst reports. HSBC downgraded shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target on the stock. in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Wells Fargo & Company dropped their target price on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Finally, Raymond James Financial set a $250.00 price target on American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $244.73.

Insider Activity

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction on 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 approximately $4,880,130.25. This trade represents 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 this hyperlink. Insiders own 0.18% of the company's stock.

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.

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