Bartlett & CO. Wealth Management LLC Has $59.13 Million Stock Holdings in American Tower Corporation $AMT

Key Points

• Bartlett & CO. Wealth Management LLC reduced its holdings in American Tower Corporation by 4% in the 2nd quarter, owning 265,627 shares worth approximately $59.13 million post-sale.
• American Tower announced a quarterly dividend of $1.70 per share, with an annualized payout of $6.80 representing a dividend yield of 3.5%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for American Tower, with an average price target of $244.73.

Bartlett & CO. Wealth Management LLC cut its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,627 shares of the real estate investment trust's stock after selling 11,000 shares during the period. Bartlett & CO. Wealth Management LLC owned about 0.06% of American Tower worth $59,134,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. North Capital Inc. acquired a new stake in American Tower during the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. boosted its position in American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after buying an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower during the 1st quarter worth approximately $31,000. City Holding Co. acquired a new stake in American Tower during the 1st quarter worth approximately $39,000. Finally, Saudi Central Bank acquired a new stake in American Tower during the 1st quarter worth approximately $40,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other 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 completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company's stock.

American Tower Stock Down 1.4%

American Tower stock opened at $191.76 on Wednesday. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.47. The firm has a market capitalization of $89.79 billion, a price-to-earnings ratio of 69.73, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The firm's fifty day moving average price is $203.87 and its two-hundred day moving average price is $212.22. 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 (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating 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 last 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 predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower's dividend payout ratio (DPR) is 247.27%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMT. The Goldman Sachs Group reiterated a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Royal Bank Of Canada raised their price target 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. Wells Fargo & Company lowered their price target on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Barclays raised their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $244.73.

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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