American Tower Corporation $AMT Shares Sold by Fisher Funds Management LTD

Fisher Funds Management LTD trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 17.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 241,562 shares of the real estate investment trust’s stock after selling 51,239 shares during the period. American Tower accounts for 1.2% of Fisher Funds Management LTD’s portfolio, making the stock its 24th biggest position. Fisher Funds Management LTD owned approximately 0.05% of American Tower worth $46,457,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Abound Wealth Management raised its position in shares of American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 81 shares during the period. Legacy Investment Solutions LLC bought a new stake in American Tower in the second quarter valued at $31,000. VSM Wealth Advisory LLC boosted its holdings in shares of American Tower by 136.4% during the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 90 shares during the period. Salomon & Ludwin LLC grew its position in shares of American Tower by 147.9% during the third quarter. Salomon & Ludwin LLC now owns 181 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 108 shares during the last quarter. Finally, City Holding Co. acquired a new stake in shares of American Tower in the 3rd quarter worth about $35,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.3%

AMT opened at $183.82 on Tuesday. 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 company has a market capitalization of $86.06 billion, a PE ratio of 29.36, a P/E/G ratio of 0.74 and a beta of 0.92. The stock’s fifty day moving average is $177.94 and its 200-day moving average is $192.76. American Tower Corporation has a one year low of $166.88 and a one year high of $234.33.

American Tower (NYSE:AMT) last announced its earnings results 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. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter last year, the business posted $2.52 earnings per share. The company’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. On average, equities analysts predict 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 will be paid on Monday, February 2nd. Investors 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%.

Insider Activity at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the sale, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was acquired at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the transaction, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on AMT. BMO Capital Markets cut shares of American Tower from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $210.00 to $185.00 in a research report on Friday, January 9th. Wells Fargo & Company decreased their price objective on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Scotiabank reduced their price target on American Tower from $248.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. Finally, Barclays restated an “equal weight” rating and set a $200.00 price objective (down from $203.00) on shares of American Tower in a research note on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $219.21.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.