London & Capital Asset Management Ltd Sells 43,338 Shares of American Tower Corporation $AMT

London & Capital Asset Management Ltd cut its position in shares of American Tower Corporation (NYSE:AMT) by 60.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 27,922 shares of the real estate investment trust’s stock after selling 43,338 shares during the quarter. London & Capital Asset Management Ltd’s holdings in American Tower were worth $6,170,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AMT. Legacy Investment Solutions LLC bought a new stake in shares of American Tower during the 2nd quarter valued at about $31,000. VSM Wealth Advisory LLC grew its holdings in American Tower by 136.4% in the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 90 shares during the period. Rosenberg Matthew Hamilton increased its position in American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 80 shares in the last quarter. Saudi Central Bank acquired a new stake in American Tower in the first quarter valued at approximately $40,000. Finally, Winnow Wealth LLC bought a new stake in shares of American Tower during the second quarter valued at approximately $44,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 2.4%

Shares of NYSE:AMT opened at $183.17 on Tuesday. The company has a market cap of $85.75 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 0.71 and a beta of 0.91. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The firm has a fifty day moving average price of $183.71 and a two-hundred day moving average price of $201.24. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the company earned $2.52 earnings per share. The firm’s quarterly 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 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, December 29th. American Tower’s payout ratio is presently 108.63%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Citigroup reiterated a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. Morgan Stanley cut their target price on American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday. Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. HSBC cut their price target on shares of American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Finally, Wells Fargo & Company decreased their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $228.00.

Insider Activity

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of American Tower stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

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.