Columbia Asset Management Has $1.58 Million Stake in American Tower Corporation $AMT

Columbia Asset Management grew its holdings in American Tower Corporation (NYSE:AMT) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,146 shares of the real estate investment trust’s stock after purchasing an additional 165 shares during the period. Columbia Asset Management’s holdings in American Tower were worth $1,579,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AMT. Brighton Jones LLC increased its holdings in shares of 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 period. Fiduciary Alliance LLC grew its stake in shares of American Tower by 6.7% in the 1st quarter. Fiduciary Alliance LLC now owns 5,281 shares of the real estate investment trust’s stock valued at $1,149,000 after buying an additional 331 shares in the last quarter. NBC Securities Inc. grew its stake in shares of American Tower by 150,100.0% in the 1st quarter. NBC Securities Inc. now owns 1,502 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 1,501 shares in the last quarter. Merit Financial Group LLC grew its stake in shares of American Tower by 19.1% in the 1st quarter. Merit Financial Group LLC now owns 8,186 shares of the real estate investment trust’s stock valued at $1,781,000 after buying an additional 1,312 shares in the last quarter. Finally, ST Germain D J Co. Inc. grew its stake in shares of American Tower by 23.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 502 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

American Tower Trading Down 1.4%

Shares of AMT stock opened at $191.76 on Wednesday. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.47. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The business’s 50 day moving average is $203.87 and its two-hundred day moving average is $212.22. The company has a market cap of $89.79 billion, a PE ratio of 69.73, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the business earned $2.79 earnings per share. American Tower’s revenue for the quarter was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

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 given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio is currently 247.27%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. BMO Capital Markets reissued an “outperform” rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Barclays boosted their price target on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Finally, HSBC cut American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research note on Wednesday, July 30th. Two 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.73.

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.