Brighton Jones LLC Has $1.93 Million Position in American Tower Corporation $AMT

Brighton Jones LLC grew its position in American Tower Corporation (NYSE:AMT) by 148.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,730 shares of the real estate investment trust’s stock after buying an additional 5,219 shares during the quarter. Brighton Jones LLC’s holdings in American Tower were worth $1,929,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMT. North Capital Inc. acquired a new position in American Tower during the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. increased its position in American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Saudi Central Bank acquired a new position in American Tower during the 1st quarter worth approximately $40,000. Finally, Accredited Wealth Management LLC increased its position in American Tower by 180.0% during the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 0.6%

NYSE:AMT opened at $191.36 on Monday. The firm’s fifty day moving average is $195.30 and its 200-day moving average is $209.07. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The firm has a market cap of $89.60 billion, a P/E ratio of 69.58, a P/E/G ratio of 1.16 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the firm posted $2.79 EPS. The company’s quarterly 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 expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is currently 247.27%.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the company’s 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 directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMT. Citigroup lowered their price objective on shares of American Tower from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Wells Fargo & Company reduced their target price on shares of American Tower from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. BMO Capital Markets reduced their target price on shares of American Tower from $245.00 to $220.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Finally, Jefferies Financial Group reduced their target price on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $236.75.

American Tower 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.