Fort Washington Investment Advisors Inc. OH Increases Stock Holdings in American Tower Corporation $AMT

Fort Washington Investment Advisors Inc. OH raised its stake in American Tower Corporation (NYSE:AMT) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 352,575 shares of the real estate investment trust’s stock after purchasing an additional 836 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.08% of American Tower worth $77,926,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of AMT. North Capital Inc. purchased a new stake in shares of American Tower in the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. boosted its stake in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower in the first quarter valued at approximately $31,000. City Holding Co. purchased a new stake in shares of American Tower in the first quarter valued at approximately $39,000. Finally, Saudi Central Bank acquired a new position in American Tower during the first quarter worth $40,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

American Tower Stock Performance

Shares of NYSE:AMT opened at $194.40 on Friday. The firm has a market capitalization of $91.03 billion, a PE ratio of 70.69, a P/E/G ratio of 1.20 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50-day moving average of $205.32 and a two-hundred day moving average of $212.44. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.47.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm’s revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. American Tower’s dividend payout ratio is presently 247.27%.

Analysts Set New Price Targets

AMT has been the subject of several research reports. Barclays lifted their price objective on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company dropped their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

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.