Somerville Kurt F Has $266,000 Stock Holdings in American Tower Corporation $AMT

Somerville Kurt F lowered its stake in shares of American Tower Corporation (NYSE:AMT) by 29.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,205 shares of the real estate investment trust’s stock after selling 500 shares during the period. Somerville Kurt F’s holdings in American Tower were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. North Capital Inc. purchased a new stake in shares of American Tower during the 1st quarter worth about $25,000. Hopwood Financial Services Inc. increased its holdings in 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 worth $26,000 after buying an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower in the first quarter worth approximately $31,000. City Holding Co. bought a new position in American Tower during the first quarter valued at approximately $39,000. Finally, Saudi Central Bank acquired a new stake in American Tower in the first quarter valued at approximately $40,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on AMT shares. UBS Group increased their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research report on Saturday, September 27th. Barclays raised their target price on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Wells Fargo & Company decreased 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. Finally, BMO Capital Markets reissued an “outperform” rating and set a $245.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.07.

American Tower Trading Up 0.6%

Shares of NYSE:AMT opened at $186.71 on Wednesday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day moving average is $200.19 and its 200-day moving average is $211.34. The company has a market cap of $87.43 billion, a P/E ratio of 67.89, a P/E/G ratio of 1.15 and a beta of 0.86. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33.

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 the consensus estimate of $2.59 by $0.01. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities research analysts predict 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. Investors of record on Tuesday, September 30th will be given a dividend of $1.70 per share. The ex-dividend date of this dividend 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 247.27%.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The shares were 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 of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by insiders.

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.