Wealth Enhancement Advisory Services LLC Reduces Position in American Tower Corporation $AMT

Wealth Enhancement Advisory Services LLC reduced its stake in shares of American Tower Corporation (NYSE:AMT) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,165 shares of the real estate investment trust’s stock after selling 13,587 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of American Tower worth $51,840,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in American Tower by 113.0% in 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 period. Sivia Capital Partners LLC raised its stake in shares of American Tower by 34.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 368 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of American Tower by 96.1% in the second quarter. Farther Finance Advisors LLC now owns 6,339 shares of the real estate investment trust’s stock worth $1,401,000 after buying an additional 3,106 shares during the last quarter. BTC Capital Management Inc. raised its position in American Tower by 3.0% during the second quarter. BTC Capital Management Inc. now owns 3,931 shares of the real estate investment trust’s stock valued at $869,000 after acquiring an additional 115 shares in the last quarter. Finally, Lewis Asset Management LLC lifted its holdings in American Tower by 17.2% in the second quarter. Lewis Asset Management LLC now owns 1,224 shares of the real estate investment trust’s stock valued at $270,000 after acquiring an additional 180 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

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

American Tower Price Performance

AMT stock traded down $3.68 during mid-day trading on Tuesday, reaching $179.89. The company’s stock had a trading volume of 580,130 shares, compared to its average volume of 2,755,503. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The company’s 50 day moving average is $177.94 and its two-hundred day moving average is $192.76. American Tower Corporation has a fifty-two week low of $166.88 and a fifty-two week high of $234.33. The stock has a market cap of $84.21 billion, a PE ratio of 28.71, a P/E/G ratio of 0.74 and a beta of 0.92.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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 analyst estimates of $2.65 billion. During the same period in the prior year, the business earned $2.52 earnings per share. The business’s 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 expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, December 29th. American Tower’s payout ratio is currently 108.63%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMT. HSBC lowered their price target on shares of American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Jefferies Financial Group lowered their price target on American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Argus set a $210.00 price objective on American Tower in a report on Thursday, October 30th. Scotiabank reduced their target price on American Tower from $248.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, January 14th. Finally, The Goldman Sachs Group reduced their price objective on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $219.21.

American Tower Company Profile

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.