SeaBridge Investment Advisors LLC Has $838,000 Stock Holdings in American Tower Corporation $AMT

SeaBridge Investment Advisors LLC decreased its holdings in shares of American Tower Corporation (NYSE:AMT) by 2.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,792 shares of the real estate investment trust’s stock after selling 83 shares during the period. SeaBridge Investment Advisors LLC’s holdings in American Tower were worth $838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of American Tower during the first quarter worth $991,525,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after buying an additional 2,309,627 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of American Tower by 23,627.3% during the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock worth $370,346,000 after buying an additional 1,694,784 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of American Tower by 272.0% during the first quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock worth $247,390,000 after buying an additional 831,247 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of American Tower during the first quarter worth $162,127,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $194.40 on Friday. The stock’s 50-day moving average is $205.32 and its 200-day moving average is $212.44. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The stock has a market cap of $91.03 billion, a P/E ratio of 70.69, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.47.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research 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 declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.5%. American Tower’s dividend payout ratio is 247.27%.

Analyst Ratings Changes

AMT has been the subject of a number of research reports. Barclays lifted their target price on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. UBS Group lifted their target price on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Wells Fargo & Company dropped their price target 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. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research note on Wednesday, July 30th. Finally, Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

American Tower Profile

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.