Clear Creek Financial Management LLC Sells 167 Shares of American Tower Corporation $AMT

Clear Creek Financial Management LLC decreased its position in shares of American Tower Corporation (NYSE:AMTFree Report) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,939 shares of the real estate investment trust’s stock after selling 167 shares during the quarter. Clear Creek Financial Management LLC’s holdings in American Tower were worth $650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AMT. Blossom Wealth Management lifted its holdings in American Tower by 1.8% during the 2nd quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 45 shares in the last quarter. TFG Advisers LLC raised its holdings in shares of American Tower by 0.3% during the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after buying an additional 47 shares in the last quarter. Novem Group raised its holdings in shares of American Tower by 3.8% during the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 48 shares in the last quarter. Elmwood Wealth Management Inc. raised its holdings in shares of American Tower by 2.5% during the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock valued at $454,000 after buying an additional 50 shares in the last quarter. Finally, 4J Wealth Management LLC raised its holdings in shares of American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 50 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Raymond James Financial set a $250.00 price objective on American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Wall Street Zen cut American Tower from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. UBS Group raised their price objective on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday. Finally, Hsbc Global Res lowered American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $242.07.

Check Out Our Latest Report on American Tower

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred 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 sale, 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 can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

American Tower Price Performance

AMT opened at $186.60 on Friday. The stock’s 50 day simple moving average is $198.75 and its 200 day simple moving average is $210.81. 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 has a market cap of $87.38 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 1.12 and a beta of 0.86.

American Tower (NYSE:AMTGet Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period last year, the company earned $2.79 EPS. 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 year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

American Tower Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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