Mutual of America Capital Management LLC Sells 657 Shares of American Tower Corporation $AMT

Mutual of America Capital Management LLC decreased its holdings in American Tower Corporation (NYSE:AMT) by 1.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 53,683 shares of the real estate investment trust’s stock after selling 657 shares during the quarter. Mutual of America Capital Management LLC’s holdings in American Tower were worth $11,865,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Blossom Wealth Management increased its position in shares of American Tower by 1.8% during the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 45 shares in the last quarter. TFG Advisers LLC increased its position in shares of American Tower by 0.3% during the second quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after purchasing an additional 47 shares in the last quarter. Novem Group increased its position in shares of American Tower by 3.8% during the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock worth $291,000 after purchasing an additional 48 shares in the last quarter. Cypress Wealth Services LLC increased its position in shares of American Tower by 1.9% during the second quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust’s stock worth $593,000 after purchasing an additional 49 shares in the last quarter. Finally, Elmwood Wealth Management Inc. increased its position in shares of American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock worth $454,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

NYSE:AMT opened at $191.60 on Monday. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $89.72 billion, a price-to-earnings ratio of 69.67, a PEG ratio of 1.16 and a beta of 0.86. The firm’s fifty day moving average is $196.63 and its two-hundred day moving average is $209.70.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating 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 company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the company earned $2.79 earnings per share. The firm’s 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. Research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio is presently 247.27%.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMT. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target on the stock. in a research report on Wednesday, July 30th. Morgan Stanley reduced their price target on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday. Barclays upped their target price on American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company cut their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $238.00.

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.