Freedom Investment Management Inc. Has $281,000 Stock Holdings in American Tower Corporation $AMT

Freedom Investment Management Inc. lessened its stake in shares of American Tower Corporation (NYSE:AMT) by 19.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,270 shares of the real estate investment trust’s stock after selling 314 shares during the quarter. Freedom Investment Management Inc.’s holdings in American Tower were worth $281,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ethic Inc. increased its position in American Tower by 15.4% during the second quarter. Ethic Inc. now owns 52,343 shares of the real estate investment trust’s stock worth $11,399,000 after acquiring an additional 6,986 shares during the period. Exencial Wealth Advisors LLC increased its position in American Tower by 3.2% during the second quarter. Exencial Wealth Advisors LLC now owns 6,823 shares of the real estate investment trust’s stock worth $1,508,000 after acquiring an additional 214 shares during the period. Brookstone Capital Management increased its position in American Tower by 3.3% during the second quarter. Brookstone Capital Management now owns 7,608 shares of the real estate investment trust’s stock worth $1,681,000 after acquiring an additional 245 shares during the period. Citizens & Northern Corp increased its position in American Tower by 2.0% during the second quarter. Citizens & Northern Corp now owns 9,302 shares of the real estate investment trust’s stock worth $2,056,000 after acquiring an additional 178 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in American Tower by 28.7% during the second quarter. Cullen Frost Bankers Inc. now owns 64,739 shares of the real estate investment trust’s stock worth $14,309,000 after acquiring an additional 14,440 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of a number of recent research reports. Jefferies Financial Group lowered their price target on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. BMO Capital Markets lowered their price target on shares of American Tower from $245.00 to $220.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Citigroup lowered their price target on shares of American Tower from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Barclays raised their target price on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Finally, Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $236.75.

American Tower Trading Up 0.6%

Shares of American Tower stock opened at $191.36 on Monday. The firm has a market capitalization of $89.60 billion, a PE ratio of 69.58, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm’s 50 day moving average is $195.30 and its 200 day moving average is $209.07. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33.

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

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. American Tower’s payout ratio is 247.27%.

Insider Activity

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% 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.