Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in American Tower Corporation $AMT

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of American Tower Corporation (NYSE:AMT) by 0.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,235,419 shares of the real estate investment trust’s stock after selling 8,920 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in American Tower were worth $273,052,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. North Capital Inc. purchased a new stake in American Tower during the 1st quarter valued at $25,000. Hopwood Financial Services Inc. increased its stake in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the period. Rosenberg Matthew Hamilton increased its stake in American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the period. Saudi Central Bank purchased a new stake in American Tower in the first quarter worth $40,000. Finally, Accredited Wealth Management LLC increased its stake in American Tower by 180.0% in 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. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.6%

American Tower stock opened at $191.36 on Friday. The stock has a 50-day moving average price of $195.30 and a 200 day moving average price of $209.02. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a market capitalization of $89.60 billion, a price-to-earnings ratio of 69.58, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33.

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

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is presently 247.27%.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the business’s 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 sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMT shares. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Barclays raised their price objective on American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. BMO Capital Markets dropped their price objective on American Tower from $245.00 to $220.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. JPMorgan Chase & Co. raised their price target on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.75.

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.