American Tower Corporation $AMT Shares Sold by Renasant Bank

Renasant Bank decreased its stake in shares of American Tower Corporation (NYSE:AMT) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,697 shares of the real estate investment trust’s stock after selling 330 shares during the period. Renasant Bank’s holdings in American Tower were worth $596,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hopwood Financial Services Inc. grew its position in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in American Tower in the second quarter worth $31,000. Rosenberg Matthew Hamilton increased its stake in American Tower by 86.0% during the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Saudi Central Bank bought a new stake in American Tower during the first quarter valued at $40,000. Finally, Accredited Wealth Management LLC raised its holdings in shares of American Tower by 180.0% during the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares during the period. 92.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Eugene F. Reilly acquired 5,554 shares of American Tower stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMT shares. Wells Fargo & Company decreased their price target on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. The Goldman Sachs Group cut their target price on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $231.11.

American Tower Price Performance

Shares of NYSE:AMT opened at $184.88 on Wednesday. The firm’s 50 day moving average is $189.19 and its two-hundred day moving average is $206.06. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The firm has a market capitalization of $86.57 billion, a P/E ratio of 29.53, a PEG ratio of 1.08 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period in the previous year, the firm posted $2.52 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is currently 108.63%.

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.