Several hedge funds and institutional investors have changed their positions in American Tower (AMT). Northwest Investment Counselors LLC and Cultivar Capital Inc. each bought shares worth about $25,000 in the first and second quarters, respectively. Other investors include Fairscale Capital LLC ($27,000), Hobbs Group Advisors LLC ($29,000), and SOA Wealth Advisors LLC ($30,000). Overall, institutional investors own 92.69% of the companys stock.
Insider Transactions at American Tower
CEO Steven O. Vondran sold 21,537 shares on August 2, 2023, at an average price of $230.00, totaling $4,953,510. He now owns 61,843 shares valued at approximately $14.22 million. CAO Robert Joseph Meyer Jr. also sold 2,181 shares for $508,020.33, retaining 31,873 shares worth about $7.42 million. In total, insiders sold 33,723 shares worth nearly $7.8 million over three months.
Analysts’ Growth Forecasts
Research firms recently updated their price targets for AMT. Mizuho raised its target from $205 to $221, while Wells Fargo increased theirs from $225 to $245. Other firms also adjusted targets, with an average price target of $234 and a consensus rating of Moderate Buy.
Stock Performance
American Tower stock opened at $231.94, with a 52-week range between $154.58 and $243.56. The company has a $108.31 billion market cap, P/E ratio of 52.48, and reported $1.92 EPS for the last quarter, lower than the $2.44 estimate.
Dividend Announcement
A quarterly dividend of $1.62 per share will be paid on October 25 for investors on record as of October 9, representing an annual yield of 2.79%.
Company Profile
American Tower is a leading independent owner and operator of communication sites, with over 224,000 locations globally.
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