Fort Washington Investment Advisors Inc. OH Decreases Stake in American Tower Corporation $AMT

Fort Washington Investment Advisors Inc. OH cut its holdings in shares of American Tower Corporation (NYSE:AMT) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 341,699 shares of the real estate investment trust’s stock after selling 10,876 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.07% of American Tower worth $65,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of American Tower by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock valued at $13,930,530,000 after buying an additional 218,881 shares in the last quarter. JPMorgan Chase & Co. grew its stake in American Tower by 24.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after buying an additional 2,474,328 shares in the last quarter. Invesco Ltd. raised its holdings in American Tower by 11.9% during the 2nd quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock valued at $1,476,529,000 after acquiring an additional 708,808 shares during the period. Norges Bank purchased a new stake in shares of American Tower during the second quarter worth $1,371,875,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of American Tower by 3.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 5,563,565 shares of the real estate investment trust’s stock worth $1,229,659,000 after acquiring an additional 208,213 shares during the period. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMT. JPMorgan Chase & Co. dropped their price objective on American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Argus set a $210.00 price objective on shares of American Tower in a research report on Thursday, October 30th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $231.00 target price (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Jefferies Financial Group lowered their target price on shares of American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Finally, Barclays restated an “equal weight” rating and set a $200.00 price target (down from $203.00) on shares of American Tower in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $226.67.

Insider Activity

In other news, Director Eugene F. Reilly bought 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $175.73 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The stock has a market cap of $82.27 billion, a P/E ratio of 28.07, a P/E/G ratio of 0.70 and a beta of 0.91. The business’s 50 day moving average price is $180.20 and its 200-day moving average price is $197.34. American Tower Corporation has a 52 week low of $170.77 and a 52 week high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the business earned $2.52 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Equities research analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, December 29th will be paid a $1.70 dividend. The ex-dividend date is Monday, December 29th. This represents a $6.80 dividend on an annualized basis and a yield of 3.9%. American Tower’s payout ratio is presently 108.63%.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.