Logan Capital Management Inc. Lowers Holdings in American Tower Corporation $AMT

Logan Capital Management Inc. decreased its holdings in American Tower Corporation (NYSE:AMT) by 49.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,000 shares of the real estate investment trust’s stock after selling 1,983 shares during the quarter. Logan Capital Management Inc.’s holdings in American Tower were worth $442,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMT. North Capital Inc. acquired a new stake in American Tower in the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. raised its holdings in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. Saudi Central Bank acquired a new stake in American Tower in the first quarter valued at approximately $40,000. Finally, Accredited Wealth Management LLC raised its holdings in American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 135 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of several analyst reports. Barclays raised their target price on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, October 17th. HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a report on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. UBS Group raised their price objective on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the stock a “sector perform” rating in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.75.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower 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 transaction, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by insiders.

American Tower Stock Performance

Shares of American Tower stock opened at $182.90 on Wednesday. The firm’s fifty day simple moving average is $194.56 and its 200-day simple moving average is $208.76. The stock has a market capitalization of $85.64 billion, a price-to-earnings ratio of 66.51, a PEG ratio of 1.15 and a beta of 0.86. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. 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 announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s payout ratio is presently 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.