Fort Washington Investment Advisors Inc. OH Reduces Position in American Tower Corporation $AMT

Fort Washington Investment Advisors Inc. OH trimmed its holdings in American Tower Corporation (NYSE:AMT) by 3.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor 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’s holdings in American Tower were worth $65,716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the second quarter worth approximately $31,000. Abound Wealth Management lifted its position in American Tower by 137.3% during the third quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 81 shares during the period. VSM Wealth Advisory LLC boosted its holdings in American Tower by 136.4% in the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 90 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in American Tower by 86.0% in 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 during the period. Finally, Winnow Wealth LLC bought a new stake in American Tower in the 2nd quarter worth approximately $44,000. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AMT shares. Raymond James Financial restated a “strong-buy” rating and issued a $231.00 price target (down from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. TD Cowen lowered their target price on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Wells Fargo & Company dropped their target price on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. The Goldman Sachs Group cut their price target on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, Morgan Stanley lowered their price objective on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $226.67.

American Tower Stock Down 0.4%

NYSE AMT opened at $175.73 on Tuesday. American Tower Corporation has a 52 week low of $170.77 and a 52 week high of $234.33. 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 company has a market capitalization of $82.27 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 0.70 and a beta of 0.91. The stock’s 50-day moving average price is $180.20 and its 200-day moving average price is $197.34.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the firm posted $2.52 EPS. 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. On average, equities research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

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

Insider Buying and Selling at American Tower

In other news, Director Eugene F. Reilly bought 5,554 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average price of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.18% of the company’s stock.

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.