American Tower Corporation $AMT Stake Lessened by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC decreased its stake in American Tower Corporation by 3.2%, owning 250,629 shares valued at approximately $55.4 million after selling 8,324 shares in the second quarter.
• Analyst upgrades and downgrades have resulted in a consensus rating of "Moderate Buy" for American Tower, with a current price target averaging $244.73 from various investment firms.
• American Tower recently announced a quarterly dividend of $1.70 per share, reflecting a 3.5% yield, with the ex-dividend date set for September 30th.

Janney Montgomery Scott LLC decreased its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,629 shares of the real estate investment trust's stock after selling 8,324 shares during the period. Janney Montgomery Scott LLC owned 0.05% of American Tower worth $55,394,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AMT. Venture Visionary Partners LLC raised its stake in shares of American Tower by 28.0% in the 2nd quarter. Venture Visionary Partners LLC now owns 3,430 shares of the real estate investment trust's stock worth $758,000 after buying an additional 751 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in American Tower during the second quarter worth about $755,000. Moss Adams Wealth Advisors LLC raised its position in American Tower by 25.8% in the second quarter. Moss Adams Wealth Advisors LLC now owns 1,766 shares of the real estate investment trust's stock worth $393,000 after acquiring an additional 362 shares in the last quarter. GC Wealth Management RIA LLC lifted its holdings in American Tower by 24.3% in the 2nd quarter. GC Wealth Management RIA LLC now owns 13,161 shares of the real estate investment trust's stock valued at $2,909,000 after acquiring an additional 2,572 shares during the last quarter. Finally, Generate Investment Management Ltd bought a new position in shares of American Tower during the 2nd quarter valued at about $16,902,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AMT shares. Royal Bank Of Canada boosted their target price on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. HSBC cut American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target on the stock. in a report on Wednesday, July 30th. Barclays raised their price objective on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Hsbc Global Res lowered American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. increased their price target 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 investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

Insider Activity

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction 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 completion of the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Stock Down 1.4%

NYSE:AMT opened at $191.76 on Wednesday. The business's fifty day moving average price is $203.87 and its 200 day moving average price is $212.22. The firm has a market capitalization of $89.79 billion, a price-to-earnings ratio of 69.73, a PEG ratio of 1.20 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.47.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

About American Tower

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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