CCLA Investment Management Sells 2,996 Shares of American Tower Corporation $AMT

CCLA Investment Management trimmed its stake in shares of American Tower Corporation (NYSE:AMT) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 419,466 shares of the real estate investment trust’s stock after selling 2,996 shares during the period. CCLA Investment Management owned about 0.09% of American Tower worth $80,629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Brighton Jones LLC grew its holdings in shares of American Tower by 113.0% during the fourth 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 in the last quarter. CW Advisors LLC boosted its position in American Tower by 82.6% during the 1st quarter. CW Advisors LLC now owns 15,934 shares of the real estate investment trust’s stock worth $3,457,000 after acquiring an additional 7,208 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of American Tower by 4.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 5,082 shares of the real estate investment trust’s stock worth $1,096,000 after acquiring an additional 202 shares in the last quarter. Southeast Asset Advisors LLC grew its stake in shares of American Tower by 4.0% during the 1st quarter. Southeast Asset Advisors LLC now owns 2,391 shares of the real estate investment trust’s stock worth $520,000 after acquiring an additional 91 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of American Tower by 25.6% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,194 shares of the real estate investment trust’s stock valued at $2,871,000 after purchasing an additional 2,686 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Raymond James Financial restated a “strong-buy” rating and set a $231.00 target price (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. UBS Group restated a “buy” rating on shares of American Tower in a report on Wednesday, December 10th. TD Cowen dropped 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. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $220.00 price target on shares of American Tower in a research report on Friday. Two research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.67.

American Tower Stock Down 1.1%

American Tower stock opened at $172.35 on Monday. 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’s 50-day moving average is $181.93 and its 200-day moving average is $199.03. The firm has a market capitalization of $80.69 billion, a PE ratio of 27.53, a P/E/G ratio of 0.69 and a beta of 0.91. American Tower Corporation has a fifty-two week low of $171.95 and a fifty-two week high of $234.33.

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, topping the consensus estimate of $2.64 by $0.14. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. American Tower’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts anticipate 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 will be paid on Monday, February 2nd. Shareholders 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 annualized dividend and a yield of 3.9%. American Tower’s dividend payout ratio is presently 108.63%.

Insider Buying and Selling at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction on 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 completion of the sale, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This 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 link. Also, Director Eugene F. Reilly bought 5,554 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was acquired at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the transaction, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.17% of the stock is owned by corporate insiders.

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.