Trivium Point Advisory LLC Lowers Stock Holdings in American Tower Corporation $AMT

Key Points

• Trivium Point Advisory LLC drastically reduced its stake in American Tower Corporation by 92.5%, leaving it with only 920 shares valued at $203,000.
• American Tower's quarterly earnings reported an EPS of $2.60, beating expectations slightly, despite a 9.4% year-over-year revenue decline.
• The company announced a quarterly dividend of $1.70 per share, equating to an annual yield of 3.5%, with a payout ratio currently over 247%.

Trivium Point Advisory LLC lowered its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 92.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 920 shares of the real estate investment trust's stock after selling 11,315 shares during the quarter. Trivium Point Advisory LLC's holdings in American Tower were worth $203,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. XML Financial LLC grew its holdings in shares of American Tower by 55.8% during the second quarter. XML Financial LLC now owns 2,388 shares of the real estate investment trust's stock worth $528,000 after buying an additional 855 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in shares of American Tower by 24.1% during the second quarter. Capital Investment Advisors LLC now owns 4,711 shares of the real estate investment trust's stock worth $1,041,000 after buying an additional 916 shares during the last quarter. HB Wealth Management LLC grew its holdings in shares of American Tower by 3.7% during the second quarter. HB Wealth Management LLC now owns 38,975 shares of the real estate investment trust's stock worth $8,614,000 after buying an additional 1,403 shares during the last quarter. Venture Visionary Partners LLC lifted its position in American Tower by 28.0% in the second quarter. Venture Visionary Partners LLC now owns 3,430 shares of the real estate investment trust's stock valued at $758,000 after purchasing an additional 751 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new stake in American Tower in the 2nd quarter valued at approximately $755,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

AMT stock opened at $193.22 on Thursday. The firm has a 50 day moving average of $203.12 and a 200-day moving average of $212.08. 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. The company has a market cap of $90.47 billion, a price-to-earnings ratio of 70.26, a PEG ratio of 1.19 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the firm earned $2.79 EPS. The company's revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

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

Insider Activity

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The stock was 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 directly owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMT. JPMorgan Chase & Co. lifted their price objective on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 price objective on American Tower and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. UBS Group lifted their price objective on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada lifted their price objective on American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Hsbc Global Res lowered American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.73.

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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