American Tower Corporation $AMT Stock Position Lessened by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lowered its position in shares of American Tower Corporation (NYSE:AMT) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,404 shares of the real estate investment trust’s stock after selling 113 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in American Tower were worth $7,383,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in American Tower by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock valued at $13,667,344,000 after buying an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after buying an additional 2,309,627 shares in the last quarter. Deutsche Bank AG boosted its stake in American Tower by 4.0% during the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after buying an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in American Tower by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock valued at $1,421,965,000 after buying an additional 88,120 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in American Tower by 3.7% during the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock valued at $1,335,407,000 after buying an additional 220,565 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.17% of the company’s stock.

American Tower Stock Up 0.5%

Shares of American Tower stock opened at $193.22 on Thursday. The stock has a 50-day moving average price of $203.12 and a 200 day moving average price of $212.08. The company has a market cap of $90.47 billion, a P/E ratio of 70.26, a P/E/G ratio of 1.19 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33.

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

American Tower Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in on AMT shares. Wells Fargo & Company decreased their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Barclays increased their price target on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. HSBC lowered American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research report on Wednesday, July 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Royal Bank Of Canada increased their price target on American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

American Tower Profile

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.