American Tower Corporation $AMT Shares Purchased by Cwm LLC

Key Points

• Cwm LLC increased its stake in American Tower Corporation ($AMT) by 20.1% during the 2nd quarter, owning 19,916 shares valued at approximately $4.4 million.
• Research analysts have mixed opinions on American Tower, with BMO Capital Markets lowering its price target to $245, while JPMorgan Chase increased its target to $255, maintaining an "overweight" rating.
• American Tower announced a quarterly dividend of $1.70 per share, to be paid on October 20th, with a current annualized yield of 3.6%.

Cwm LLC increased its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 20.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,916 shares of the real estate investment trust's stock after acquiring an additional 3,336 shares during the quarter. Cwm LLC's holdings in American Tower were worth $4,402,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after purchasing an additional 2,104 shares during the period. GAMMA Investing LLC increased its stake in American Tower by 9.0% in the first quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust's stock valued at $1,702,000 after purchasing an additional 648 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in American Tower by 0.4% in the first 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 purchasing an additional 1,205 shares during the period. Grimes & Company Inc. acquired a new position in American Tower in the first quarter valued at $235,000. Finally, NBT Bank N A NY increased its stake in American Tower by 39.9% in the first quarter. NBT Bank N A NY now owns 2,050 shares of the real estate investment trust's stock valued at $446,000 after purchasing an additional 585 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMT shares. BMO Capital Markets restated an "outperform" rating and issued a $245.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Morgan Stanley dropped their price objective on shares of American Tower from $270.00 to $235.00 and set an "overweight" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective 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. Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the stock a "sector perform" rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen upgraded shares of American Tower from a "sell" rating to a "hold" rating in a research note on Sunday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $239.50.

American Tower Trading Up 0.7%

Shares of AMT opened at $191.44 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm's 50-day moving average is $196.93 and its two-hundred day moving average is $210.08. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The firm has a market capitalization of $89.64 billion, a P/E ratio of 69.61, a PEG ratio of 1.15 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results 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 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 business posted $2.79 earnings per share. The firm's revenue for the quarter 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, research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business 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 dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower's dividend payout ratio is presently 247.27%.

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.

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