Conning Inc. Sells 95 Shares of American Tower Corporation $AMT

Conning Inc. lessened its stake in shares of American Tower Corporation (NYSE:AMT) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,104 shares of the real estate investment trust’s stock after selling 95 shares during the quarter. Conning Inc.’s holdings in American Tower were worth $686,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AMT. Brighton Jones LLC raised its stake in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 2,104 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in American Tower by 43.2% in the first quarter. Farther Finance Advisors LLC now owns 3,233 shares of the real estate investment trust’s stock worth $710,000 after purchasing an additional 975 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of American Tower by 5.1% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,932 shares of the real estate investment trust’s stock worth $638,000 after purchasing an additional 143 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of American Tower by 9.0% during the 1st quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust’s stock valued at $1,702,000 after purchasing an additional 648 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of American Tower by 1.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 17,433 shares of the real estate investment trust’s stock worth $3,793,000 after purchasing an additional 326 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Wells Fargo & Company dropped their target price on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target on the stock. in a research note on Wednesday, July 30th. Finally, Barclays lifted their price objective on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $242.07.

American Tower Stock Performance

AMT opened at $186.60 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The firm has a 50 day moving average of $198.75 and a two-hundred day moving average of $210.82. The firm has a market capitalization of $87.38 billion, a PE ratio of 67.85, a P/E/G ratio of 1.13 and a beta of 0.86.

American Tower (NYSE:AMT) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company 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 of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. American Tower’s dividend payout ratio is 247.27%.

Insider Transactions at American Tower

In other American Tower 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 transaction, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.17% of the company’s stock.

American Tower Company 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.