CCLA Investment Management Raises Stock Holdings in American Tower Corporation $AMT

CCLA Investment Management boosted its stake in American Tower Corporation (NYSE:AMT) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 422,462 shares of the real estate investment trust’s stock after buying an additional 16,089 shares during the period. CCLA Investment Management owned approximately 0.09% of American Tower worth $93,326,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. North Capital Inc. purchased a new stake in American Tower in the 1st quarter valued at about $25,000. Hopwood Financial Services Inc. raised its holdings in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares during the period. Rosenberg Matthew Hamilton raised its holdings in American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 80 shares during the period. Saudi Central Bank purchased a new stake in American Tower in the 1st quarter valued at about $40,000. Finally, Accredited Wealth Management LLC raised its holdings in American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 135 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Up 0.6%

AMT stock opened at $191.36 on Monday. The company’s 50 day moving average price is $195.30 and its 200 day moving average price is $209.07. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The firm has a market capitalization of $89.60 billion, a price-to-earnings ratio of 69.58, a PEG ratio of 1.16 and a beta of 0.86.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm earned $2.79 earnings per share. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio is presently 247.27%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. BMO Capital Markets cut their price target on shares of American Tower from $245.00 to $220.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Wells Fargo & Company cut their price target on shares of American Tower from $230.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Finally, HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target on the stock. in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.75.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.