Joel Isaacson & Co. LLC Lowers Stake in American Tower Corporation $AMT

Joel Isaacson & Co. LLC cut its position in American Tower Corporation (NYSE:AMT) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,281 shares of the real estate investment trust’s stock after selling 155 shares during the period. Joel Isaacson & Co. LLC’s holdings in American Tower were worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. North Capital Inc. purchased a new stake in American Tower in the 1st quarter worth $25,000. Hopwood Financial Services Inc. grew its position in shares of American Tower by 100.0% during the first 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. E Fund Management Hong Kong Co. Ltd. bought a new stake in American Tower during the 1st quarter valued at approximately $31,000. City Holding Co. purchased a new position in American Tower in the 1st quarter worth approximately $39,000. Finally, Saudi Central Bank purchased a new position in American Tower in the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on AMT. Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Barclays boosted their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of American Tower in a research report on Saturday, September 27th. Raymond James Financial set a $250.00 price target on American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company decreased their price objective on American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $242.07.

American Tower Trading Down 2.5%

Shares of AMT stock opened at $185.46 on Tuesday. The company has a market cap of $86.84 billion, a PE ratio of 67.44, a price-to-earnings-growth ratio of 1.17 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. The stock’s 50 day simple moving average is $200.75 and its two-hundred day simple moving average is $211.51. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last released its quarterly 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. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts predict 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 will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio is 247.27%.

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.