LM Advisors LLC Has $391,000 Stock Holdings in American Tower Corporation $AMT

LM Advisors LLC lowered its position in shares of American Tower Corporation (NYSE:AMT) by 67.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,770 shares of the real estate investment trust’s stock after selling 3,689 shares during the quarter. LM Advisors LLC’s holdings in American Tower were worth $391,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Heard Capital LLC increased its holdings in shares of American Tower by 3.0% during the second quarter. Heard Capital LLC now owns 825,210 shares of the real estate investment trust’s stock worth $182,388,000 after buying an additional 23,998 shares in the last quarter. ICONIQ Capital LLC increased its holdings in American Tower by 15.5% during the 2nd quarter. ICONIQ Capital LLC now owns 2,793 shares of the real estate investment trust’s stock valued at $617,000 after purchasing an additional 374 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in American Tower by 1.0% during the 2nd quarter. EP Wealth Advisors LLC now owns 284,631 shares of the real estate investment trust’s stock valued at $62,909,000 after purchasing an additional 2,904 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in American Tower by 1.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 175,480 shares of the real estate investment trust’s stock valued at $38,785,000 after purchasing an additional 2,277 shares during the last quarter. Finally, Bwcp LP bought a new stake in shares of American Tower during the second quarter worth $9,941,000. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

AMT opened at $180.95 on Friday. The company has a fifty day moving average price of $182.83 and a two-hundred day moving average price of $200.51. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The firm has a market capitalization of $84.71 billion, a PE ratio of 28.91, a P/E/G ratio of 0.73 and a beta of 0.91.

American Tower (NYSE:AMT) last posted its quarterly 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. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the business posted $2.52 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business 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 $1.70 dividend. The ex-dividend date of this dividend is Monday, December 29th. This represents a $6.80 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio is presently 108.63%.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research analyst reports. BMO Capital Markets cut their price target on American Tower from $215.00 to $210.00 and set an “outperform” rating for the company 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 research note on Wednesday, October 29th. UBS Group reissued a “buy” rating on shares of American Tower in a research note on Wednesday. HSBC dropped their price objective on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. Finally, Barclays reiterated an “equal weight” rating and issued a $200.00 price objective (down from $203.00) on shares of American Tower in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $228.00.

Insider Transactions at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eugene F. Reilly acquired 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average price of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director owned 5,689 shares of the company’s stock, 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.

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.