Steward Partners Investment Advisory LLC Decreases Stake in American Tower Corporation $AMT

Steward Partners Investment Advisory LLC reduced its holdings in shares of American Tower Corporation (NYSE:AMT) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,668 shares of the real estate investment trust’s stock after selling 914 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in American Tower were worth $6,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Hopwood Financial Services Inc. lifted its stake 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 valued at $26,000 after acquiring an additional 60 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the second quarter worth approximately $31,000. VSM Wealth Advisory LLC raised its holdings in shares of American Tower by 136.4% during the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 90 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in American Tower by 86.0% during the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 80 shares during the period. Finally, Saudi Central Bank purchased a new stake in American Tower in the first quarter worth approximately $40,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

Shares of American Tower stock opened at $181.39 on Thursday. The stock has a market cap of $84.92 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.08 and a beta of 0.85. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The stock’s fifty day moving average is $186.05 and its 200 day moving average is $203.08. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the business posted $2.52 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is currently 108.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Barclays decreased their target price on shares of American Tower from $251.00 to $203.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a report on Tuesday. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Raymond James Financial reissued a “strong-buy” rating and issued a $231.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Finally, The Goldman Sachs Group cut their price target on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $228.44.

Insider Buying and Selling

In other news, Director Eugene F. Reilly purchased 5,554 shares of the stock in a transaction on Friday, October 31st. The shares were acquired at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

American Tower Company 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.