Cwm LLC Lowers Stock Position in American Tower Corporation $AMT

Cwm LLC decreased its position in American Tower Corporation (NYSE:AMT) by 19.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,961 shares of the real estate investment trust’s stock after selling 3,955 shares during the period. Cwm LLC’s holdings in American Tower were worth $3,070,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its holdings in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after purchasing an additional 2,104 shares during the period. AQR Capital Management LLC lifted its position in shares of American Tower by 60.1% during the 1st quarter. AQR Capital Management LLC now owns 280,434 shares of the real estate investment trust’s stock valued at $60,784,000 after buying an additional 105,261 shares in the last quarter. Banque Transatlantique SA acquired a new stake in American Tower in the 1st quarter valued at $619,000. Boothbay Fund Management LLC raised its position in American Tower by 1,446.2% during the first quarter. Boothbay Fund Management LLC now owns 36,381 shares of the real estate investment trust’s stock worth $7,917,000 after acquiring an additional 34,028 shares during the period. Finally, Concentric Capital Strategies LP purchased a new position in American Tower during the first quarter valued at $1,033,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

American Tower stock opened at $175.51 on Friday. The firm has a 50 day simple moving average of $179.28 and a 200-day simple moving average of $196.77. The stock has a market cap of $82.17 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 0.70 and a beta of 0.92. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. American Tower Corporation has a 1-year low of $170.77 and a 1-year high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm 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. 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 dividend payout ratio is currently 108.63%.

Insider Transactions at American Tower

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction dated Tuesday, December 9th. The shares were 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 trade represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eugene F. Reilly purchased 5,554 shares of American Tower stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their position. The SEC filing for this purchase provides additional information. 0.17% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMT. Barclays reissued an “equal weight” rating and set a $200.00 target price (down previously from $203.00) on shares of American Tower in a research note on Monday, December 1st. Morgan Stanley dropped their price target on American Tower from $255.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, December 4th. BMO Capital Markets decreased their price objective on American Tower from $215.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, December 3rd. Wells Fargo & Company dropped their target price on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Finally, Jefferies Financial Group decreased their price target on shares of American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Two equities research 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. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.67.

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.