American Tower Corporation $AMT Shares Sold by Grassi Investment Management

Grassi Investment Management decreased its stake in shares of American Tower Corporation (NYSE:AMT) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,967 shares of the real estate investment trust’s stock after selling 550 shares during the period. American Tower accounts for 0.9% of Grassi Investment Management’s portfolio, making the stock its 29th largest position. Grassi Investment Management’s holdings in American Tower were worth $11,044,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings 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 buying an additional 2,104 shares during the last quarter. NBC Securities Inc. increased its stake in American Tower by 150,100.0% during the first quarter. NBC Securities Inc. now owns 1,502 shares of the real estate investment trust’s stock worth $326,000 after acquiring an additional 1,501 shares during the last quarter. Merit Financial Group LLC increased its stake in American Tower by 19.1% during the first quarter. Merit Financial Group LLC now owns 8,186 shares of the real estate investment trust’s stock worth $1,781,000 after acquiring an additional 1,312 shares during the last quarter. Secure Asset Management LLC acquired a new stake in American Tower during the 1st quarter worth approximately $220,000. Finally, Charles Schwab Trust Co increased its position in American Tower by 6.7% during the 1st quarter. Charles Schwab Trust Co now owns 1,235 shares of the real estate investment trust’s stock worth $269,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of research analyst reports. Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the stock a “sector perform” rating in a research report on Wednesday. Wall Street Zen lowered shares of American Tower from a “hold” rating to a “sell” rating in a research report on Saturday. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a report on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of American Tower in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. increased their target price on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $242.07.

American Tower Stock Down 0.6%

Shares of American Tower stock opened at $190.10 on Friday. The business has a 50-day moving average of $201.53 and a 200-day moving average of $211.76. 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 company has a market capitalization of $89.01 billion, a PE ratio of 69.13, a P/E/G ratio of 1.18 and a beta of 0.86. 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 earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating 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 company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the firm 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. As a group, equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the firm’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 completion of the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

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.