Clear Creek Financial Management LLC Sells 167 Shares of American Tower Corporation $AMT

Clear Creek Financial Management LLC cut its position in shares of American Tower Corporation (NYSE:AMT) by 5.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,939 shares of the real estate investment trust’s stock after selling 167 shares during the period. Clear Creek Financial Management LLC’s holdings in American Tower were worth $650,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AMT. North Capital Inc. bought a new stake in shares of American Tower during the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. boosted its position in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower during the first quarter valued at approximately $31,000. Saudi Central Bank bought a new stake in shares of American Tower during the first quarter valued at approximately $40,000. Finally, Accredited Wealth Management LLC boosted its position in shares of American Tower by 180.0% during the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 135 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 0.7%

AMT stock opened at $186.60 on Friday. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The business has a fifty day moving average price of $198.75 and a 200-day moving average price of $210.81. 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 stock has a market capitalization of $87.38 billion, a P/E ratio of 67.85, a P/E/G ratio of 1.12 and a beta of 0.86.

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 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 firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the business earned $2.79 earnings per share. The company’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. Equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 3.6%. American Tower’s payout ratio is currently 247.27%.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. BMO Capital Markets reiterated an “outperform” rating and set a $245.00 price objective (down previously from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. UBS Group lifted their price objective on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Wells Fargo & Company lowered their price objective on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Wall Street Zen cut American Tower from a “hold” rating to a “sell” rating in a research note on Saturday, October 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $242.07.

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.