Boston Family Office LLC Cuts Holdings in American Tower Corporation $AMT

Boston Family Office LLC lowered its stake in shares of American Tower Corporation (NYSE:AMT) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 125,846 shares of the real estate investment trust’s stock after selling 738 shares during the quarter. American Tower accounts for 1.8% of Boston Family Office LLC’s investment portfolio, making the stock its 12th biggest position. Boston Family Office LLC’s holdings in American Tower were worth $27,808,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Focus Financial Network Inc. raised its holdings in American Tower by 9.1% during the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after buying an additional 170 shares during the last quarter. Resolution Capital Ltd purchased a new position in shares of American Tower in the first quarter valued at about $72,706,000. Stack Financial Management Inc bought a new position in shares of American Tower during the second quarter valued at about $13,020,000. Los Angeles Capital Management LLC boosted its holdings in shares of American Tower by 52.5% during the second quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock worth $71,094,000 after purchasing an additional 110,671 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of American Tower by 1.0% in the second quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock worth $334,430,000 after purchasing an additional 15,920 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a report on Tuesday, November 25th. Argus set a $210.00 price target on American Tower in a research note on Thursday, October 30th. The Goldman Sachs Group reduced their price objective on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Finally, HSBC dropped their target price on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $228.44.

Insider Activity at American Tower

In related news, Director Eugene F. Reilly purchased 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, with a total value of $994,110.46. Following the transaction, the director directly owned 5,689 shares in the company, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by corporate insiders.

American Tower Stock Performance

Shares of American Tower stock opened at $181.95 on Monday. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The firm has a market capitalization of $85.18 billion, a P/E ratio of 29.07, a P/E/G ratio of 1.08 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24. The business has a fifty day simple moving average of $185.59 and a two-hundred day simple moving average of $202.72.

American Tower (NYSE:AMT) last issued its quarterly 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 last year, the business earned $2.52 EPS. American Tower’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 analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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 dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

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.