American Tower Corporation $AMT Stock Holdings Increased by BTC Capital Management Inc.

BTC Capital Management Inc. increased its holdings in American Tower Corporation (NYSE:AMT) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,931 shares of the real estate investment trust’s stock after purchasing an additional 115 shares during the quarter. BTC Capital Management Inc.’s holdings in American Tower were worth $869,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of 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 valued at $727,000 after acquiring an additional 2,104 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of American Tower during the fourth quarter valued at approximately $2,990,000. Vident Advisory LLC raised its holdings in shares of American Tower by 8.1% during the fourth quarter. Vident Advisory LLC now owns 4,611 shares of the real estate investment trust’s stock valued at $846,000 after acquiring an additional 347 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of American Tower during the fourth quarter valued at approximately $10,575,000. Finally, Focus Partners Advisor Solutions LLC raised its holdings in shares of American Tower by 107.7% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 2,711 shares of the real estate investment trust’s stock valued at $497,000 after acquiring an additional 1,406 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the company a “strong-buy” rating in a research report on Wednesday, July 30th. UBS Group boosted their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Wells Fargo & Company dropped their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $245.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $244.73.

American Tower Price Performance

NYSE:AMT opened at $193.29 on Monday. American Tower Corporation has a one year low of $172.51 and a one year high of $238.34. The stock has a market cap of $90.51 billion, a P/E ratio of 70.29, a PEG ratio of 1.19 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. The company has a fifty day moving average price of $208.18 and a 200 day moving average price of $213.04.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the company posted $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. Analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. American Tower’s dividend payout ratio is currently 247.27%.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.