ST Germain D J Co. Inc. Raises Stock Position in American Tower Corporation $AMT

ST Germain D J Co. Inc. lifted its stake in shares of American Tower Corporation (NYSE:AMT) by 78.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 895 shares of the real estate investment trust’s stock after buying an additional 393 shares during the quarter. ST Germain D J Co. Inc.’s holdings in American Tower were worth $198,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Brighton Jones LLC raised its position in American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares during the last quarter. GAMMA Investing LLC raised its position in American Tower by 23,627.3% in the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock valued at $370,346,000 after purchasing an additional 1,694,784 shares during the last quarter. Parallel Advisors LLC raised its position in American Tower by 1.6% in the 1st quarter. Parallel Advisors LLC now owns 21,612 shares of the real estate investment trust’s stock valued at $4,703,000 after purchasing an additional 332 shares during the last quarter. BTC Capital Management Inc. raised its position in American Tower by 4.3% in the 1st quarter. BTC Capital Management Inc. now owns 3,816 shares of the real estate investment trust’s stock valued at $830,000 after purchasing an additional 159 shares during the last quarter. Finally, Somerset Trust Co raised its position in American Tower by 11.3% in the 1st quarter. Somerset Trust Co now owns 5,929 shares of the real estate investment trust’s stock valued at $1,290,000 after purchasing an additional 603 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMT shares. BMO Capital Markets reiterated an “outperform” rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. HSBC downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research report on Wednesday, July 30th. Royal Bank Of Canada boosted their price objective on shares of American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, 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 note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $194.40 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 fifty-two week low of $172.51 and a fifty-two week high of $234.47. The stock has a market cap of $91.03 billion, a PE ratio of 70.69, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. The firm’s fifty day simple moving average is $205.32 and its 200-day simple moving average is $212.44.

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 for the quarter, topping 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 business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the company posted $2.79 EPS. The business’s revenue for the quarter 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 expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is 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.