Blair William & Co. IL Reduces Holdings in American Tower Corporation $AMT

Key Points

• Blair William & Co. IL reduced its holdings in American Tower Corporation (NYSE:AMT) by 0.5%, owning 773,174 shares after selling 4,015 shares in the second quarter, valuing their stake at $170,887,000.
• CEO Juan Font sold 720 shares at a price of $208.33, decreasing his ownership by 2.98% to 23,425 shares valued at approximately $4.88 million.
• Analysts have issued varying ratings on American Tower, with Barclays and JPMorgan raising their price targets to $250.00 and $255.00 respectively, reflecting a generally positive outlook despite some ratings being downgraded.

Blair William & Co. IL lessened its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 0.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 773,174 shares of the real estate investment trust's stock after selling 4,015 shares during the quarter. Blair William & Co. IL owned about 0.17% of American Tower worth $170,887,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Focus Financial Network Inc. raised its holdings in shares of American Tower by 9.1% in the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust's stock valued at $451,000 after buying an additional 170 shares during the last quarter. Resolution Capital Ltd purchased a new position in shares of American Tower in the 1st quarter valued at approximately $72,706,000. Golden State Wealth Management LLC increased its holdings in shares of American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 69 shares during the period. Shum Financial Group Inc. raised its stake in shares of American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after purchasing an additional 141 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of American Tower by 126.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock worth $21,215,000 after purchasing an additional 54,360 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Buying and Selling

In other news, CEO Juan Font sold 720 shares of the 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 of the company's stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. BMO Capital Markets reissued an "outperform" rating and set a $245.00 target price (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their price objective on 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, eleven have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $242.07.

American Tower Stock Performance

NYSE AMT opened at $185.46 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The stock has a market cap of $86.84 billion, a price-to-earnings ratio of 67.44, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The business has a fifty day moving average of $199.72 and a 200-day moving average of $211.16.

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

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. American Tower's payout ratio is presently 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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