Cullinan Associates Inc. Lowers Stock Holdings in American Tower Corporation $AMT

Cullinan Associates Inc. decreased its position in shares of American Tower Corporation (NYSE:AMT) by 4.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,611 shares of the real estate investment trust’s stock after selling 710 shares during the period. Cullinan Associates Inc.’s holdings in American Tower were worth $3,671,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Blossom Wealth Management raised its position in American Tower by 1.8% during the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 45 shares in the last quarter. TFG Advisers LLC increased its holdings in shares of American Tower by 0.3% in the second quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after buying an additional 47 shares during the period. Novem Group increased its holdings in shares of American Tower by 3.8% in the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 48 shares during the period. Elmwood Wealth Management Inc. increased its holdings in shares of American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock worth $454,000 after buying an additional 50 shares during the period. Finally, 4J Wealth Management LLC increased its holdings in shares of American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $190.10 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The business’s 50 day moving average price is $201.53 and its 200-day moving average price is $211.73. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The stock has a market cap of $89.01 billion, a P/E ratio of 69.13, a P/E/G ratio of 1.17 and a beta of 0.86.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.79 EPS. 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 fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. American Tower’s payout ratio is currently 247.27%.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a report on Wednesday, July 30th. UBS Group lifted their price objective on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Wall Street Zen downgraded American Tower from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.07.

Insider Activity at American Tower

In other 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 value of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.18% of the stock is owned by company insiders.

American Tower Company 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.