American Tower Corporation $AMT Stock: Vontobel Holding Ltd. Trims Holdings

Key Points

• Vontobel Holding reduced its American Tower stake by 8.3% in the third quarter, selling 5,998 shares and retaining a position worth approximately $11.0 million. Institutional investors collectively own 92.69% of AMT.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $215. Several firms recently raised or maintained “outperform” or “buy” ratings.
• American Tower reported quarterly earnings of $2.71 per share, surpassing estimates of $1.57, while revenue rose 4.6% year over year to $2.75 billion. The company also declared a $1.79 quarterly dividend, equivalent to a 3.9% annualized yield.

Vontobel Holding Ltd. decreased its position in American Tower Corporation (NYSE:AMT - Free Report) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 66,378 shares of the real estate investment trust's stock after selling 5,998 shares during the quarter. Vontobel Holding Ltd.'s holdings in American Tower were worth $11,031,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. TD Waterhouse Canada Inc. boosted its holdings in shares of American Tower by 9.2% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 80,589 shares of the real estate investment trust's stock worth $13,600,000 after acquiring an additional 6,767 shares in the last quarter. Hanson & Doremus Investment Management raised its holdings in shares of American Tower by 7.2% in the third quarter. Hanson & Doremus Investment Management now owns 9,890 shares of the real estate investment trust's stock valued at $1,619,000 after buying an additional 665 shares during the last quarter. Aspiriant LLC bought a new position in shares of American Tower in the third quarter valued at about $353,000. Perryman Financial Advisory Inc. AD raised its holdings in shares of American Tower by 6.3% in the third quarter. Perryman Financial Advisory Inc. AD now owns 25,571 shares of the real estate investment trust's stock valued at $4,391,000 after buying an additional 1,526 shares during the last quarter. Finally, Franchise GP Ltd acquired a new position in American Tower during the 3rd quarter worth about $105,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Insiders Place Their Bets

In other news, Director Rajesh Kalathur acquired 2,829 shares of the company's stock in a transaction on Friday, August 21st. The stock was purchased at an average cost of $177.00 per share, with a total value of $500,733.00. Following the acquisition, the director owned 7,765 shares of the company's stock, valued at $1,374,405. This trade represents a 57.31% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Joseph Meyer sold 5,000 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the transaction, the chief financial officer owned 21,428 shares in the company, valued at approximately $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 6,791 shares of company stock valued at $1,204,091. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on AMT. Royal Bank Of Canada raised shares of American Tower from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $195.00 to $205.00 in a report on Friday, June 26th. Truist Financial reaffirmed a "buy" rating and issued a $207.00 target price (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. Wolfe Research raised shares of American Tower from a "peer perform" rating to an "outperform" rating and set a $188.00 target price for the company in a research note on Wednesday, July 8th. Sanford C. Bernstein reiterated an "outperform" rating and set a $214.00 target price on shares of American Tower in a research report on Wednesday, July 29th. Finally, Scotiabank reissued an "outperform" rating on shares of American Tower in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $215.00.

American Tower Stock Up 2.1%

NYSE AMT opened at $185.24 on Friday. The stock has a fifty day moving average of $173.57 and a 200-day moving average of $175.36. The stock has a market capitalization of $86.32 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 2.97 and a beta of 0.88. American Tower Corporation has a 52 week low of $160.06 and a 52 week high of $196.08. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. The firm's quarterly revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, equities research analysts forecast that American Tower Corporation will post 10.80 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 20th. Investors of record on Wednesday, September 30th will be given a $1.79 dividend. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Wednesday, September 30th. American Tower's dividend payout ratio (DPR) is presently 98.49%.

American Tower Company Profile

American Tower Corporation NYSE: AMT is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.

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