Private Wealth Asset Management LLC Decreases Stake in American Tower Corporation $AMT

Private Wealth Asset Management LLC reduced its position in American Tower Corporation (NYSE:AMT) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,160 shares of the real estate investment trust’s stock after selling 56 shares during the period. Private Wealth Asset Management LLC’s holdings in American Tower were worth $698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Brighton Jones LLC boosted its position in American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares during the last quarter. GAMMA Investing LLC boosted its position in American Tower by 9.0% in the 1st quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust’s stock valued at $1,702,000 after buying an additional 648 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in American Tower by 0.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 276,533 shares of the real estate investment trust’s stock valued at $60,174,000 after buying an additional 1,205 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in American Tower by 4.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 7,961 shares of the real estate investment trust’s stock valued at $1,732,000 after buying an additional 354 shares during the last quarter. Finally, Mission Wealth Management LP boosted its position in American Tower by 45.5% in the 1st quarter. Mission Wealth Management LP now owns 3,048 shares of the real estate investment trust’s stock valued at $663,000 after buying an additional 953 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

AMT opened at $186.43 on Wednesday. The firm has a market cap of $87.30 billion, a price-to-earnings ratio of 67.79, a price-to-earnings-growth ratio of 1.11 and a beta of 0.86. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The company’s 50-day moving average price is $197.68 and its 200 day moving average price is $210.40. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business earned $2.79 earnings per share. American Tower’s quarterly revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.6%. American Tower’s dividend payout ratio is 247.27%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. Wells Fargo & Company cut their target price on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a research note on Wednesday, July 30th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $245.00 target price (down previously from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.06.

Insider Buying and Selling

In other news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

American Tower 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.