Somerville Kurt F Has $266,000 Holdings in American Tower Corporation $AMT

Somerville Kurt F cut its position in shares of American Tower Corporation (NYSE:AMT) by 29.3% during the second quarter, HoldingsChannel.com reports. The firm owned 1,205 shares of the real estate investment trust’s stock after selling 500 shares during the period. Somerville Kurt F’s holdings in American Tower were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Brighton Jones LLC raised its stake in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares in the last quarter. Congress Asset Management Co. bought a new stake in American Tower in the first quarter valued at about $203,000. Wedmont Private Capital raised its position in American Tower by 7.6% in the first quarter. Wedmont Private Capital now owns 3,038 shares of the real estate investment trust’s stock worth $648,000 after purchasing an additional 214 shares in the last quarter. Miracle Mile Advisors LLC raised its position in American Tower by 25.4% in the first quarter. Miracle Mile Advisors LLC now owns 4,679 shares of the real estate investment trust’s stock worth $1,018,000 after purchasing an additional 949 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its stake in American Tower by 33.6% during the first quarter. Capital Investment Advisors LLC now owns 3,795 shares of the real estate investment trust’s stock worth $826,000 after purchasing an additional 955 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

Shares of AMT stock opened at $186.71 on Wednesday. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The stock has a market capitalization of $87.43 billion, a PE ratio of 67.89, a PEG ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s fifty day moving average is $200.19 and its 200-day moving average is $211.34.

American Tower (NYSE:AMT) last issued its quarterly 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 net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company earned $2.79 EPS. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio is 247.27%.

Insider Buying and Selling at American Tower

In other American Tower 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 value 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 trade represents a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays upped their price objective on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. HSBC lowered American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a research note on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. UBS Group upped their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.07.

American Tower 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.