D.A. Davidson & CO. Sells 390 Shares of American Tower Corporation $AMT

D.A. Davidson & CO. cut its holdings in shares of American Tower Corporation (NYSE:AMT) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,840 shares of the real estate investment trust’s stock after selling 390 shares during the quarter. D.A. Davidson & CO.’s holdings in American Tower were worth $3,280,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. North Capital Inc. bought a new stake in American Tower during the 1st quarter worth about $25,000. Hopwood Financial Services Inc. lifted its position in American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 80 shares in the last quarter. Saudi Central Bank bought a new stake in American Tower during the 1st quarter worth about $40,000. Finally, Accredited Wealth Management LLC raised its holdings in shares of American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 135 shares during the period. 92.69% of the stock is owned by institutional investors.

Insider Activity

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were 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 in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Morgan Stanley dropped their target price on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Finally, Barclays upped their target price on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $236.75.

American Tower Stock Up 0.6%

American Tower stock opened at $191.36 on Friday. The stock has a market cap of $89.60 billion, a P/E ratio of 69.58, a P/E/G ratio of 1.15 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The company’s 50-day moving average price is $195.30 and its two-hundred day moving average price is $209.02.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating 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 firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the firm earned $2.79 EPS. The business’s 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. As a group, analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend 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.