American Tower Corporation $AMT Shares Sold by Hazelview Securities Inc.

Hazelview Securities Inc. cut its stake in shares of American Tower Corporation (NYSE:AMT) by 31.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,885 shares of the real estate investment trust’s stock after selling 34,515 shares during the quarter. American Tower makes up 2.9% of Hazelview Securities Inc.’s portfolio, making the stock its 18th largest holding. Hazelview Securities Inc.’s holdings in American Tower were worth $16,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. Heard Capital LLC grew its stake in American Tower by 3.0% during the 2nd quarter. Heard Capital LLC now owns 825,210 shares of the real estate investment trust’s stock worth $182,388,000 after buying an additional 23,998 shares during the last quarter. ICONIQ Capital LLC boosted its holdings in shares of American Tower by 15.5% during the second quarter. ICONIQ Capital LLC now owns 2,793 shares of the real estate investment trust’s stock valued at $617,000 after acquiring an additional 374 shares during the period. EP Wealth Advisors LLC grew its position in shares of American Tower by 1.0% during the second quarter. EP Wealth Advisors LLC now owns 284,631 shares of the real estate investment trust’s stock worth $62,909,000 after acquiring an additional 2,904 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of American Tower by 1.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 175,480 shares of the real estate investment trust’s stock worth $38,785,000 after acquiring an additional 2,277 shares during the period. Finally, Bwcp LP bought a new stake in American Tower in the 2nd quarter valued at about $9,941,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.4%

Shares of AMT stock opened at $180.95 on Friday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. The business’s fifty day moving average is $182.83 and its 200-day moving average is $200.51. The stock has a market cap of $84.71 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 0.73 and a beta of 0.91.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.14. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities analysts expect that American Tower Corporation will post 10.14 earnings per share 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 paid a $1.70 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s payout ratio is currently 108.63%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup restated a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. BMO Capital Markets decreased their price objective on American Tower from $215.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, December 3rd. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Argus set a $210.00 price target on American Tower in a report on Thursday, October 30th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $231.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $228.00.

Insider Buying and Selling

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider owned 211,379 shares of the company’s stock, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.17% of the stock is owned by insiders.

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.