Janney Capital Management LLC Lowers Stock Position in American Tower Corporation $AMT

Janney Capital Management LLC cut its stake in shares of American Tower Corporation (NYSE:AMT) by 1.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 48,707 shares of the real estate investment trust’s stock after selling 572 shares during the quarter. Janney Capital Management LLC’s holdings in American Tower were worth $10,765,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Venture Visionary Partners LLC grew its stake in shares of American Tower by 28.0% during the 2nd quarter. Venture Visionary Partners LLC now owns 3,430 shares of the real estate investment trust’s stock valued at $758,000 after buying an additional 751 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new stake in American Tower during the 2nd quarter worth $755,000. Moss Adams Wealth Advisors LLC boosted its position in American Tower by 25.8% during the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 1,766 shares of the real estate investment trust’s stock worth $393,000 after purchasing an additional 362 shares during the period. GC Wealth Management RIA LLC boosted its position in American Tower by 24.3% during the 2nd quarter. GC Wealth Management RIA LLC now owns 13,161 shares of the real estate investment trust’s stock worth $2,909,000 after purchasing an additional 2,572 shares during the period. Finally, Generate Investment Management Ltd purchased a new stake in American Tower during the 2nd quarter worth $16,902,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AMT shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. UBS Group upped their price target 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. Barclays upped their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report 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 report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $244.73.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the company’s 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 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $194.37 on Tuesday. The stock has a market cap of $91.01 billion, a P/E ratio of 70.68, a PEG ratio of 1.20 and a beta of 0.86. The firm has a 50-day moving average of $204.68 and a two-hundred day moving average of $212.36. 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 Corporation has a 1-year low of $172.51 and a 1-year high of $234.47.

American Tower (NYSE:AMT) last issued its earnings results 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. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 30th. 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.