American Tower Corporation $AMT Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lessened its holdings in shares of American Tower Corporation (NYSE:AMT) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,847 shares of the real estate investment trust’s stock after selling 608 shares during the period. Checchi Capital Advisers LLC’s holdings in American Tower were worth $1,513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMT. Brighton Jones LLC grew its holdings in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 2,104 shares during the period. NBC Securities Inc. boosted its position in American Tower by 150,100.0% during the first quarter. NBC Securities Inc. now owns 1,502 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 1,501 shares in the last quarter. Merit Financial Group LLC grew its holdings in American Tower by 19.1% in the first quarter. Merit Financial Group LLC now owns 8,186 shares of the real estate investment trust’s stock valued at $1,781,000 after purchasing an additional 1,312 shares during the last quarter. Breakwater Capital Group acquired a new stake in American Tower in the first quarter valued at $213,000. Finally, Annex Advisory Services LLC acquired a new stake in American Tower in the first quarter valued at $230,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of the 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 transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Barclays upped their target price on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. HSBC lowered American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $242.07.

American Tower Stock Down 0.6%

Shares of NYSE:AMT opened at $190.10 on Friday. 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 52-week low of $172.51 and a 52-week high of $234.33. The stock’s fifty day simple moving average is $201.53 and its 200-day simple moving average is $211.75. The company has a market capitalization of $89.01 billion, a P/E ratio of 69.13, a P/E/G ratio of 1.17 and a beta of 0.86.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the business earned $2.79 earnings per share. 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, equities research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

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.