Pring Turner Capital Group Inc. Has $328,000 Stake in American Tower Corporation $AMT

Pring Turner Capital Group Inc. lowered its holdings in shares of American Tower Corporation (NYSE:AMT) by 74.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,486 shares of the real estate investment trust’s stock after selling 4,225 shares during the quarter. Pring Turner Capital Group Inc.’s holdings in American Tower were worth $328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nuveen LLC bought a new position in American Tower in the first quarter valued at approximately $991,525,000. JPMorgan Chase & Co. raised its holdings in shares of American Tower by 24.3% during the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock worth $2,799,458,000 after acquiring an additional 2,474,328 shares during the period. Price T Rowe Associates Inc. MD lifted its position in American Tower by 39.6% in the 1st 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 acquiring an additional 2,309,627 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in American Tower in the 1st quarter valued at $162,127,000. Finally, Amundi boosted its stake in American Tower by 35.5% in the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after purchasing an additional 743,617 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Eugene F. Reilly acquired 5,554 shares of American Tower stock in a transaction dated Friday, October 31st. The stock was bought at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the acquisition, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

American Tower Stock Up 0.2%

Shares of AMT stock opened at $179.56 on Friday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The stock has a market cap of $84.06 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.08 and a beta of 0.85. The firm’s 50-day moving average is $186.92 and its 200-day moving average is $203.89. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89.

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

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is currently 108.63%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. The Goldman Sachs Group cut their target price on American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. TD Cowen decreased their price target on shares of American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Citigroup reissued a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group reduced their target price on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $228.44.

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.