Wilmington Savings Fund Society FSB Trims Stock Holdings in American Tower Corporation $AMT

Wilmington Savings Fund Society FSB trimmed its holdings in American Tower Corporation (NYSE:AMT) by 11.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,325 shares of the real estate investment trust’s stock after selling 915 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in American Tower were worth $1,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blossom Wealth Management grew its stake in American Tower by 1.8% during the 2nd 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 during the last quarter. TFG Advisers LLC grew its stake in American Tower by 0.3% during the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after purchasing an additional 47 shares during the last quarter. Novem Group grew its stake in American Tower by 3.8% during the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 48 shares during the last quarter. Elmwood Wealth Management Inc. boosted its stake 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 last quarter. Finally, 4J Wealth Management LLC boosted its stake 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 last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on AMT. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research note on Sunday. Wells Fargo & Company lowered their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. JPMorgan Chase & Co. upped their target price on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, UBS Group upped their target price on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. 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 company. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $241.06.

American Tower Stock Performance

NYSE AMT opened at $189.94 on Thursday. The stock has a market capitalization of $88.94 billion, a price-to-earnings ratio of 69.07, a PEG ratio of 1.13 and a beta of 0.86. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. 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 50-day moving average of $197.30 and a 200 day moving average of $210.26.

American Tower (NYSE:AMT) last released its quarterly 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 analysts’ expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.American Tower’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued 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 dividend yield of 3.6%. American Tower’s dividend payout ratio is presently 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.