Vontobel Holding Ltd. Sells 5,998 Shares of American Tower Corporation $AMT

Vontobel Holding Ltd. reduced its stake in American Tower Corporation (NYSE:AMT) by 8.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,378 shares of the real estate investment trust’s stock after selling 5,998 shares during the period. Vontobel Holding Ltd.’s holdings in American Tower were worth $11,031,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Raleigh Capital Management Inc. increased its holdings in shares of American Tower by 489.1% in the first quarter. Raleigh Capital Management Inc. now owns 13,703 shares of the real estate investment trust’s stock worth $2,365,000 after acquiring an additional 11,377 shares in the last quarter. Canal Capital Management LLC lifted its holdings in shares of American Tower by 81.9% during the 1st quarter. Canal Capital Management LLC now owns 34,471 shares of the real estate investment trust’s stock valued at $5,949,000 after purchasing an additional 15,520 shares in the last quarter. Bernzott Capital Advisors lifted its holdings in shares of American Tower by 29.3% during the 1st quarter. Bernzott Capital Advisors now owns 42,161 shares of the real estate investment trust’s stock valued at $7,276,000 after purchasing an additional 9,556 shares in the last quarter. BIP Wealth LLC acquired a new position in shares of American Tower in the 2nd quarter valued at approximately $1,004,000. Finally, Groupe la Francaise grew its position in shares of American Tower by 319.0% in the 2nd quarter. Groupe la Francaise now owns 33,505 shares of the real estate investment trust’s stock valued at $5,481,000 after purchasing an additional 25,508 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Up 2.1%

AMT stock opened at $185.24 on Friday. The company has a debt-to-equity ratio of 3.12, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market capitalization of $86.32 billion, a P/E ratio of 25.48, a P/E/G ratio of 2.97 and a beta of 0.88. The business has a 50-day moving average of $173.57 and a 200-day moving average of $175.36. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $196.08.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $1.14. American Tower had a return on equity of 32.76% and a net margin of 31.08%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period last year, the company earned $2.60 earnings per share. American Tower’s quarterly revenue was up 4.6% on a year-over-year basis. American Tower has set its FY 2026 guidance at 11.000-11.170 EPS. On average, sell-side analysts anticipate that American Tower Corporation will post 10.80 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 20th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.79 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $7.16 dividend on an annualized basis and a yield of 3.9%. American Tower’s dividend payout ratio is 98.49%.

Insider Transactions at American Tower

In other news, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $174.96, for a total value of $193,505.76. Following the sale, the executive vice president owned 27,711 shares of the company’s stock, valued at $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $178.89, for a total transaction of $894,450.00. Following the transaction, the chief financial officer owned 21,428 shares of the company’s stock, valued at $3,833,254.92. The trade was a 18.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 6,791 shares of company stock valued at $1,204,091 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on AMT shares. Royal Bank Of Canada raised American Tower from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $195.00 to $205.00 in a research note on Friday, June 26th. Truist Financial reaffirmed a “buy” rating and issued a $207.00 price target (down from $208.00) on shares of American Tower in a research note on Wednesday, August 12th. Scotiabank reiterated an “outperform” rating on shares of American Tower in a report on Wednesday, July 29th. The Goldman Sachs Group set a $210.00 price objective on shares of American Tower in a research report on Tuesday, July 28th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $214.00 price objective on shares of American Tower in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $215.00.

American Tower Company Profile

American Tower Corporation (NYSE:AMT) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its portfolio primarily includes communications towers, rooftop sites, distributed antenna systems and other infrastructure used by wireless carriers, broadcasters, governments and businesses to support voice, data and video communications.

The company leases space on its sites to multiple customers, allowing them to install antennas and related equipment without building and maintaining individual tower locations.