Janus Henderson Group PLC Reduces Stake in American Tower Corporation $AMT

Janus Henderson Group PLC trimmed its position in American Tower Corporation (NYSE:AMT - Free Report) by 70.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,462 shares of the real estate investment trust's stock after selling 143,618 shares during the period. Janus Henderson Group PLC's holdings in American Tower were worth $10,589,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMT. Richards Merrill & Peterson Inc. bought a new position in shares of American Tower during the 4th quarter valued at $25,000. Oakworth Capital Inc. lifted its stake in American Tower by 90.7% in the fourth quarter. Oakworth Capital Inc. now owns 143 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 68 shares during the period. Swiss RE Ltd. bought a new position in American Tower in the fourth quarter worth about $25,000. Triumph Capital Management bought a new position in shares of American Tower in the 3rd quarter worth approximately $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in shares of American Tower in the 4th quarter worth about $29,000. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In related news, CFO Robert Joseph Meyer sold 5,000 shares of the firm's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total value of $894,450.00. Following the completion of the sale, the chief financial officer directly owned 21,428 shares in the company, valued at $3,833,254.92. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ruth T. Dowling sold 1,106 shares of American Tower stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the transaction, the executive vice president directly owned 27,711 shares of the company's stock, valued at approximately $4,848,316.56. This represents a 3.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,791 shares of company stock worth $1,204,091 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. TD Cowen lifted their price objective on American Tower from $225.00 to $227.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Royal Bank Of Canada upgraded shares of American Tower from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $195.00 to $205.00 in a report on Friday, June 26th. BMO Capital Markets boosted their price target on American Tower from $190.00 to $195.00 and gave the company a "market perform" rating in a research note on Wednesday, July 29th. Scotiabank restated an "outperform" rating on shares of American Tower in a research note on Wednesday, July 29th. Finally, Mizuho raised shares of American Tower from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $189.00 to $205.00 in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $215.19.

American Tower Trading Up 1.3%

AMT stock opened at $175.28 on Wednesday. The firm has a fifty day moving average price of $175.46 and a 200 day moving average price of $178.42. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $214.79. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $81.66 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 2.77 and a beta of 0.90.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Friday, June 12th were paid a $1.79 dividend. This represents a $7.16 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, June 12th. American Tower's dividend payout ratio (DPR) is presently 98.49%.

About American Tower

American Tower NYSE: AMT is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company's core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.

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