Consolidated Portfolio Review Corp Sells 153 Shares of American Tower Corporation $AMT

Consolidated Portfolio Review Corp lowered its holdings in shares of American Tower Corporation (NYSE:AMT) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,593 shares of the real estate investment trust’s stock after selling 153 shares during the period. Consolidated Portfolio Review Corp’s holdings in American Tower were worth $1,015,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. LBP AM SA grew its holdings in American Tower by 693.8% in the 2nd quarter. LBP AM SA now owns 70,391 shares of the real estate investment trust’s stock worth $15,558,000 after acquiring an additional 61,523 shares during the last quarter. Columbia Asset Management increased its stake in American Tower by 2.4% during the 2nd quarter. Columbia Asset Management now owns 7,146 shares of the real estate investment trust’s stock valued at $1,579,000 after purchasing an additional 165 shares in the last quarter. Liberty Capital Management Inc. increased its stake in American Tower by 1.3% during the 2nd quarter. Liberty Capital Management Inc. now owns 22,522 shares of the real estate investment trust’s stock valued at $4,978,000 after purchasing an additional 287 shares in the last quarter. XML Financial LLC grew its stake in shares of American Tower by 55.8% in the second quarter. XML Financial LLC now owns 2,388 shares of the real estate investment trust’s stock worth $528,000 after acquiring an additional 855 shares during the period. Finally, Capital Investment Advisors LLC grew its stake in shares of American Tower by 24.1% in the second quarter. Capital Investment Advisors LLC now owns 4,711 shares of the real estate investment trust’s stock worth $1,041,000 after acquiring an additional 916 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

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

American Tower Stock Up 0.5%

NYSE:AMT opened at $193.22 on Thursday. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The company has a 50-day moving average of $203.12 and a 200 day moving average of $212.08. The firm has a market cap of $90.47 billion, a PE ratio of 70.26, a price-to-earnings-growth 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.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during 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 quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company 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 dividend of $1.70 per share. The ex-dividend date of this dividend 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 (DPR) is presently 247.27%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMT. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. UBS Group lifted their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Wells Fargo & Company cut their target price on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Finally, Barclays boosted their target price on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

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.