Sterling Investment Advisors Ltd. Has $2.89 Million Stake in American Tower Corporation $AMT

Sterling Investment Advisors Ltd. decreased its position in American Tower Corporation (NYSE:AMT) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,065 shares of the real estate investment trust’s stock after selling 433 shares during the period. Sterling Investment Advisors Ltd.’s holdings in American Tower were worth $2,888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Brighton Jones LLC lifted its holdings in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in American Tower by 1.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 10,854 shares of the real estate investment trust’s stock valued at $2,362,000 after purchasing an additional 159 shares in the last quarter. Baker Tilly Wealth Management LLC increased its stake in American Tower by 62.2% in the first quarter. Baker Tilly Wealth Management LLC now owns 4,734 shares of the real estate investment trust’s stock valued at $1,030,000 after purchasing an additional 1,815 shares in the last quarter. Fiduciary Alliance LLC increased its stake in American Tower by 6.7% in the first quarter. Fiduciary Alliance LLC now owns 5,281 shares of the real estate investment trust’s stock valued at $1,149,000 after purchasing an additional 331 shares in the last quarter. Finally, Enterprise Bank & Trust Co increased its stake in American Tower by 1.5% in the first quarter. Enterprise Bank & Trust Co now owns 10,576 shares of the real estate investment trust’s stock valued at $2,301,000 after purchasing an additional 152 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $245.00 price target (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on shares of American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

American Tower Stock Up 0.1%

AMT opened at $194.37 on Tuesday. 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 stock has a market cap of $91.01 billion, a price-to-earnings ratio of 70.68, a PEG ratio of 1.20 and a beta of 0.86. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.47. The company’s 50-day moving average price is $204.68 and its two-hundred day moving average price is $212.36.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations 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 previous year, the company earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio is presently 247.27%.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the company’s 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 in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.