Bank Julius Baer & Co. Ltd Zurich Cuts Holdings in American Tower Corporation $AMT

Bank Julius Baer & Co. Ltd Zurich lessened its stake in American Tower Corporation (NYSE:AMT) by 42.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 545 shares of the real estate investment trust’s stock after selling 397 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in American Tower were worth $120,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new position in American Tower in the first quarter worth approximately $991,525,000. Price T Rowe Associates Inc. MD raised its holdings in shares of American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after purchasing an additional 2,309,627 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of American Tower during the 1st quarter worth $162,127,000. Amundi grew its stake in shares of American Tower by 35.5% during the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after purchasing an additional 743,617 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of American Tower by 490.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock worth $141,612,000 after purchasing an additional 540,648 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Down 0.1%

Shares of NYSE AMT opened at $179.40 on Tuesday. The firm has a 50-day moving average price of $186.66 and a 200 day moving average price of $203.51. The stock has a market capitalization of $83.99 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33.

American Tower (NYSE:AMT) last released 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 firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.American Tower’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. American Tower’s payout ratio is presently 108.63%.

Insider Activity

In other American Tower news, Director Eugene F. Reilly purchased 5,554 shares of American Tower stock in a transaction 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 completion of the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $231.00 price target (down from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. UBS Group reiterated a “buy” rating and issued a $260.00 price target on shares of American Tower in a research note on Wednesday, October 29th. Morgan Stanley reduced their price objective on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Finally, Jefferies Financial Group dropped their target price on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $228.44.

American Tower Company 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.