Graham Capital Wealth Management LLC Trims Stake in American Tower Corporation $AMT

Graham Capital Wealth Management LLC cut its position in American Tower Corporation (NYSE:AMT) by 28.2% in the second quarter, Holdings Channel reports. The firm owned 8,348 shares of the real estate investment trust’s stock after selling 3,274 shares during the period. American Tower accounts for approximately 2.2% of Graham Capital Wealth Management LLC’s holdings, making the stock its 19th biggest position. Graham Capital Wealth Management LLC’s holdings in American Tower were worth $1,845,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AMT. Hopwood Financial Services Inc. boosted its holdings in shares of American Tower by 100.0% in the first 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 purchased a new stake in American Tower in the 2nd quarter valued at $31,000. VSM Wealth Advisory LLC boosted its stake in American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 90 shares during the period. Rosenberg Matthew Hamilton grew 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 purchasing an additional 80 shares during the last quarter. Finally, Saudi Central Bank acquired a new position in American Tower in the first quarter valued at $40,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, Director Eugene F. Reilly acquired 5,554 shares of American Tower stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director directly owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

American Tower Stock Down 0.8%

AMT opened at $179.09 on Friday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The stock has a market capitalization of $83.84 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.08 and a beta of 0.85. The business has a 50 day simple moving average of $187.23 and a 200-day simple moving average of $204.34.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share 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 firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the company posted $2.52 earnings per share. American Tower’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. On average, equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMT. JPMorgan Chase & Co. decreased their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. TD Cowen decreased their price objective on American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Morgan Stanley dropped their target price on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Finally, Argus set a $210.00 price objective on shares of American Tower in a research report on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $228.44.

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.