Jag Capital Management LLC Decreases Stock Holdings in American Tower Corporation $AMT

Jag Capital Management LLC lowered its holdings in shares of American Tower Corporation (NYSE:AMT) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,823 shares of the real estate investment trust’s stock after selling 125 shares during the quarter. Jag Capital Management LLC’s holdings in American Tower were worth $2,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. North Capital Inc. purchased a new stake in American Tower during the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. boosted its holdings in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of American Tower during the 1st quarter valued at approximately $31,000. Saudi Central Bank purchased a new stake in American Tower during the 1st quarter valued at $40,000. Finally, Accredited Wealth Management LLC lifted its position in American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 135 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group cut their price objective on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group lifted 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 Wednesday, October 8th. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, JPMorgan Chase & Co. upped their target price on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $241.06.

Insider Buying and Selling at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The shares were 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 directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Stock Down 2.0%

NYSE:AMT opened at $183.03 on Tuesday. The company has a 50-day moving average of $198.16 and a 200 day moving average of $210.57. 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 firm has a market cap of $85.70 billion, a PE ratio of 66.56, a price-to-earnings-growth ratio of 1.13 and a beta of 0.86. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates 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%.American Tower’s revenue was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio is 247.27%.

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.