American Tower Corporation $AMT Shares Bought by Shell Asset Management Co.

Shell Asset Management Co. raised its holdings in American Tower Corporation (NYSE:AMT) by 35.2% in the second quarter, Holdings Channel reports. The fund owned 18,597 shares of the real estate investment trust’s stock after buying an additional 4,838 shares during the period. Shell Asset Management Co.’s holdings in American Tower were worth $4,110,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. North Capital Inc. acquired a new stake in shares of American Tower during the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. increased its holdings in shares of 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 buying an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of American Tower during 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 acquired a new stake in shares of American Tower during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Barclays boosted their target price on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. UBS Group boosted their target price on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Finally, Wells Fargo & Company cut 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. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.07.

Insider Activity

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $186.71 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The stock has a market capitalization of $87.43 billion, a PE ratio of 67.89, a P/E/G ratio of 1.15 and a beta of 0.86. The firm has a 50 day moving average of $200.19 and a two-hundred day moving average of $211.34.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.58 billion. During the same quarter last year, the company posted $2.79 EPS. The firm’s revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, research analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

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.