Corient Private Wealth LLC Has $142.64 Million Stock Position in American Tower Corporation $AMT

Corient Private Wealth LLC lessened its holdings in American Tower Corporation (NYSE:AMT) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 645,339 shares of the real estate investment trust’s stock after selling 3,474 shares during the quarter. Corient Private Wealth LLC owned 0.14% of American Tower worth $142,639,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Caldwell Trust Co bought a new stake in American Tower in the 2nd quarter valued at about $1,053,000. Canal Capital Management LLC raised its position in shares of American Tower by 2.0% in the second quarter. Canal Capital Management LLC now owns 29,866 shares of the real estate investment trust’s stock valued at $6,601,000 after buying an additional 579 shares in the last quarter. Valeo Financial Advisors LLC raised its position in shares of American Tower by 15.4% in the second quarter. Valeo Financial Advisors LLC now owns 10,730 shares of the real estate investment trust’s stock valued at $2,371,000 after buying an additional 1,434 shares in the last quarter. Osaic Holdings Inc. grew its position in American Tower by 30.7% during the second quarter. Osaic Holdings Inc. now owns 73,591 shares of the real estate investment trust’s stock worth $16,225,000 after buying an additional 17,281 shares in the last quarter. Finally, Lavaca Capital LLC increased its stake in American Tower by 10.0% during the 2nd quarter. Lavaca Capital LLC now owns 1,188 shares of the real estate investment trust’s stock worth $263,000 after acquiring an additional 108 shares during the period. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent analyst reports. Raymond James Financial reiterated a “strong-buy” rating and set a $231.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, October 29th. Jefferies Financial Group dropped their price target on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. 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 note on Wednesday, October 29th. JPMorgan Chase & Co. dropped their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $228.00.

Insider Activity

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the transaction, the director owned 5,689 shares in the company, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.18% of the stock is currently owned by company insiders.

American Tower Price Performance

AMT stock opened at $180.95 on Monday. The stock has a market cap of $84.71 billion, a price-to-earnings ratio of 28.91, a P/E/G ratio of 0.72 and a beta of 0.91. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. The company has a 50 day simple moving average of $182.83 and a 200 day simple moving average of $200.34. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

About American Tower

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.