Sage Mountain Advisors LLC Has $874,000 Holdings in American Tower Corporation $AMT

Sage Mountain Advisors LLC lifted its position in shares of American Tower Corporation (NYSE:AMT) by 50.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,953 shares of the real estate investment trust’s stock after acquiring an additional 1,323 shares during the period. Sage Mountain Advisors LLC’s holdings in American Tower were worth $874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Blossom Wealth Management lifted its holdings in shares of 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 acquiring an additional 45 shares during the period. TFG Advisers LLC raised its stake in American Tower by 0.3% during the second quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after acquiring an additional 47 shares in the last quarter. Novem Group raised its stake in American Tower by 3.8% during the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 48 shares in the last quarter. Cypress Wealth Services LLC raised its stake in American Tower by 1.9% during the second quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust’s stock worth $593,000 after acquiring an additional 49 shares in the last quarter. Finally, Elmwood Wealth Management Inc. raised its stake in American Tower by 2.5% during the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock worth $454,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

AMT has been the subject of several research analyst reports. Citigroup lowered their target price on American Tower from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. UBS Group boosted their target price on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Jefferies Financial Group lowered their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Raymond James Financial set a $250.00 price objective on American Tower and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.75.

American Tower Stock Performance

Shares of AMT stock opened at $191.36 on Friday. The business’s 50 day simple moving average is $195.30 and its 200 day simple moving average is $209.06. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The stock has a market capitalization of $89.60 billion, a PE ratio of 69.58, a PEG ratio of 1.16 and a beta of 0.86. 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 (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) 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 analysts’ expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend 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.