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Mizuho Securities USA LLC Sells 6,872 Shares of American Tower Corporation (NYSE:AMT)

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Key Points

  • Mizuho Securities USA LLC decreased its stake in American Tower Corporation by 15.5%, holding 37,416 shares worth approximately $8.14 million after selling 6,872 shares in the first quarter.
  • CEO Juan Font sold 720 shares of American Tower stock at an average price of $208.33 per share, reducing his ownership by 2.98% to 23,425 shares valued at about $4.88 million.
  • American Tower reported a quarterly EPS of $2.60, exceeding expectations, but its revenue declined by 9.4% year-over-year to $2.63 billion.
  • Looking to Export and Analyze American Tower Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Mizuho Securities USA LLC trimmed its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,416 shares of the real estate investment trust's stock after selling 6,872 shares during the period. Mizuho Securities USA LLC's holdings in American Tower were worth $8,142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. North Capital Inc. purchased a new position in American Tower during the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. grew its position in 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 in the last quarter. Minot DeBlois Advisors LLC purchased a new position in shares of American Tower during the 4th quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of American Tower during the 1st quarter valued at $31,000. Finally, Lowe Wealth Advisors LLC grew its holdings in shares of American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 109 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the 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 transaction, the chief executive officer owned 23,425 shares of the company's stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Stock Performance

Shares of AMT traded down $3.50 during trading hours on Friday, reaching $206.51. 1,727,522 shares of the company traded hands, compared to its average volume of 2,134,941. The stock's fifty day moving average is $218.37 and its 200 day moving average is $211.41. The stock has a market cap of $96.70 billion, a P/E ratio of 75.09, a price-to-earnings-growth ratio of 1.18 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.79 earnings per share. Equities research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, June 13th. American Tower's dividend payout ratio is 247.27%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays boosted their price target on shares of American Tower from $223.00 to $246.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. HSBC cut 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. Bank of America assumed coverage on shares of American Tower in a report on Monday, May 19th. They set a "buy" rating and a $255.00 price target on the stock. Scotiabank lifted their price objective on shares of American Tower from $234.00 to $248.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of "Moderate Buy" and an average target price of $243.88.

Get Our Latest Analysis on AMT

American Tower Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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