Koa Wealth Management LLC Decreases Stock Holdings in American Tower Corporation $AMT

Key Points

• Koa Wealth Management LLC reduced its holdings in American Tower Corporation by 16.7%, now owning approximately 14,944 shares valued at $3,303,000.
• CEO Juan Font sold 720 shares of American Tower stock, reducing his position by 2.98% and leaving him with 23,425 shares worth about $4.88 million.
• American Tower announced a quarterly dividend of $1.70, with an annual yield of 3.6%, payable on October 20th to shareholders recorded by September 30th.

Koa Wealth Management LLC trimmed its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 16.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,944 shares of the real estate investment trust's stock after selling 3,003 shares during the quarter. American Tower accounts for about 2.6% of Koa Wealth Management LLC's holdings, making the stock its 11th largest position. Koa Wealth Management LLC's holdings in American Tower were worth $3,303,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Blossom Wealth Management boosted its holdings in American Tower by 1.8% in the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust's stock worth $575,000 after acquiring an additional 45 shares in the last quarter. TFG Advisers LLC boosted its stake in American Tower by 0.3% in the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust's stock worth $3,578,000 after purchasing an additional 47 shares in the last quarter. Novem Group lifted its stake in shares of American Tower by 3.8% in the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust's stock worth $291,000 after buying an additional 48 shares in the last quarter. Cypress Wealth Services LLC lifted its stake in shares of American Tower by 1.9% in the second quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust's stock worth $593,000 after buying an additional 49 shares in the last quarter. Finally, Elmwood Wealth Management Inc. lifted its stake in shares of American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after buying an additional 50 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on AMT. Hsbc Global Res cut shares of American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Weiss Ratings reiterated a "hold (c-)" rating on shares of American Tower in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the stock a "sector perform" rating in a research note on Wednesday, October 1st. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their target price 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, twelve have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $239.50.

American Tower Trading Up 0.7%

American Tower stock opened at $191.44 on Friday. The stock has a market cap of $89.64 billion, a P/E ratio of 69.61, a PEG ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The firm's 50 day moving average price is $196.93 and its 200-day moving average price is $210.08.

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 (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. During the same period in the previous year, the firm posted $2.79 earnings per share. The business's 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 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 paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. 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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