American Tower Corporation $AMT Shares Bought by Columbia Asset Management

Columbia Asset Management grew its position in shares of American Tower Corporation (NYSE:AMT) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,146 shares of the real estate investment trust’s stock after acquiring an additional 165 shares during the quarter. Columbia Asset Management’s holdings in American Tower were worth $1,579,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of AMT. Focus Financial Network Inc. lifted its holdings in 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 worth $451,000 after purchasing an additional 170 shares during the period. Resolution Capital Ltd acquired a new stake in American Tower in the first quarter worth about $72,706,000. Golden State Wealth Management LLC lifted its holdings in 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 worth $80,000 after purchasing an additional 69 shares during the period. Shum Financial Group Inc. lifted its holdings in American Tower by 3.5% in 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 period. Finally, Kovitz Investment Group Partners LLC lifted its holdings in American Tower by 126.0% in 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. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AMT shares. Barclays upped their price objective 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. Royal Bank Of Canada upped their price objective 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 Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. HSBC downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a report on Wednesday, July 30th. Finally, Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Two research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $244.73.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE AMT opened at $191.76 on Wednesday. The stock’s 50-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. The company has a market cap of $89.79 billion, a PE ratio of 69.73, a PEG ratio of 1.20 and a beta of 0.86. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.47.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts predict that American Tower Corporation will post 10.14 EPS for the current 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 issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, September 30th. 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.