Vontobel Holding Ltd. Lowers Stake in American Tower Corporation $AMT

Vontobel Holding Ltd. lowered its position in shares of American Tower Corporation (NYSE:AMT) by 5.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,073,068 shares of the real estate investment trust’s stock after selling 62,927 shares during the quarter. Vontobel Holding Ltd. owned 0.23% of American Tower worth $237,169,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AMT. North Capital Inc. purchased a new position in shares of American Tower in the first quarter worth $25,000. Hopwood Financial Services Inc. lifted its holdings in shares of 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 buying an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of American Tower in the first quarter worth $31,000. City Holding Co. purchased a new position in shares of American Tower in the first quarter worth $39,000. Finally, Saudi Central Bank purchased a new position in shares of American Tower in the first quarter worth $40,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a report on Wednesday. Barclays upped their price target on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Wells Fargo & Company decreased their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the company a “sector perform” rating in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $242.07.

American Tower Trading Down 0.8%

NYSE AMT opened at $185.46 on Thursday. The company’s 50-day moving average price is $199.72 and its 200-day moving average price is $211.16. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The stock has a market cap of $86.84 billion, a PE ratio of 67.44, a PEG ratio of 1.15 and a beta of 0.86. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. 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 posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. American Tower’s dividend payout ratio is presently 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.