Chicago Partners Investment Group LLC Reduces Stock Position in American Tower Corporation $AMT

Chicago Partners Investment Group LLC trimmed its position in American Tower Corporation (NYSE:AMT) by 17.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,109 shares of the real estate investment trust’s stock after selling 5,192 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in American Tower were worth $4,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMT. Vest Financial LLC raised its position in American Tower by 23.8% during the 3rd quarter. Vest Financial LLC now owns 54,696 shares of the real estate investment trust’s stock worth $10,519,000 after buying an additional 10,523 shares during the last quarter. Waldron Private Wealth LLC increased its stake in shares of American Tower by 7.6% in the third quarter. Waldron Private Wealth LLC now owns 5,389 shares of the real estate investment trust’s stock worth $1,045,000 after acquiring an additional 379 shares during the period. Demars Financial Group LLC acquired a new stake in shares of American Tower in the third quarter worth $392,000. Vert Asset Management LLC raised its holdings in shares of American Tower by 10.6% during the third quarter. Vert Asset Management LLC now owns 103,122 shares of the real estate investment trust’s stock worth $19,832,000 after purchasing an additional 9,872 shares during the last quarter. Finally, Mill Capital Management LLC boosted its holdings in American Tower by 0.5% in the third quarter. Mill Capital Management LLC now owns 122,684 shares of the real estate investment trust’s stock valued at $23,595,000 after purchasing an additional 619 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $178.14 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 12-month low of $166.88 and a 12-month high of $234.33. The business’s 50 day moving average is $177.69 and its two-hundred day moving average is $192.35. The company has a market capitalization of $83.40 billion, a P/E ratio of 28.46, a P/E/G ratio of 0.71 and a beta of 0.92.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 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 analysts’ expectations of $2.65 billion. During the same period in the previous 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. Analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be given 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 yield of 3.8%. American Tower’s dividend payout ratio is currently 108.63%.

Analyst Ratings Changes

A number of equities analysts have weighed in on AMT shares. JPMorgan Chase & Co. reduced their price objective on American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. The Goldman Sachs Group reduced their price target on American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Argus set a $210.00 price target on American Tower in a report on Thursday, October 30th. Royal Bank Of Canada dropped their price objective on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research note on Monday, January 12th. Finally, UBS Group cut their target price on shares of American Tower from $260.00 to $254.00 and set a “buy” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $218.89.

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 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 transaction, the insider owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eugene F. Reilly acquired 5,554 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the acquisition, the director owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

American Tower 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.