Multiple hedge funds and institutional investors have adjusted their holdings in American Tower (AMT). New investments include Northwest Investment Counselors LLC ($25,000), Cultivar Capital Inc. ($25,000), Fairscale Capital LLC ($27,000), Hobbs Group Advisors LLC ($29,000), and SOA Wealth Advisors LLC ($30,000). Institutional investors and hedge funds collectively hold 92.69% of the company’s stock.
Insider Transactions
CEO Steven O. Vondran sold 21,537 shares at $230 each on August 2, totaling nearly $5 million. He now owns 61,843 shares valued at about $14.2 million. Additionally, CAO Robert Joseph Meyer, Jr. sold 2,181 shares at an average of $232.93 on the same day. Over the last three months, insiders sold 33,723 shares valued at about $7.8 million, while corporate insiders hold 0.18% of the company.
Analyst Ratings
Analysts have mixed but generally positive views on AMT. Mizuho raised its target to $221, Wells Fargo to $245, Royal Bank to $236, Scotiabank to $248, and Deutsche Bank to $235. The consensus rating is Moderate Buy with an average price target of $234.
Stock Performance
The stock opened at $231.94, with a 52-week range of $154.58 – $243.56. It has a market cap of $108.31 billion, a P/E ratio of 52.48, and a debt-to-equity ratio of 3.42. Recent earnings showed EPS of $1.92 versus an estimate of $2.44.
Dividend Announcement
A quarterly dividend of $1.62 will be paid on October 25 to shareholders recorded by October 9, yielding a 2.79% annual return with a payout ratio of 146.61%.
About American Tower
As one of the largest REITs globally, American Tower specializes in owning and managing communication real estate, with a portfolio exceeding 224,000 sites.
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