Hutchens & Kramer Investment Management Group LLC Reduces Position in American Tower Corporation $AMT

Hutchens & Kramer Investment Management Group LLC cut its holdings in shares of American Tower Corporation (NYSE:AMT) by 17.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,443 shares of the real estate investment trust’s stock after selling 945 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in American Tower were worth $997,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMT. Brighton Jones LLC boosted its position in shares of American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares during the last quarter. Golden State Wealth Management LLC boosted its position in shares of American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 69 shares during the last quarter. Mutual Advisors LLC boosted its position in shares of American Tower by 1.4% during the first quarter. Mutual Advisors LLC now owns 4,263 shares of the real estate investment trust’s stock valued at $899,000 after buying an additional 57 shares during the last quarter. Silver Oak Securities Incorporated boosted its position in shares of American Tower by 28.1% during the first quarter. Silver Oak Securities Incorporated now owns 2,319 shares of the real estate investment trust’s stock valued at $500,000 after buying an additional 508 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in American Tower in the first quarter valued at about $144,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent research reports. Raymond James Financial reissued a “strong-buy” rating and issued a $231.00 target price (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. UBS Group reissued a “buy” rating and issued a $260.00 target price on shares of American Tower in a report on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a report on Wednesday, October 8th. Citigroup reissued a “market outperform” rating on shares of American Tower in a report on Wednesday. Finally, TD Cowen lowered their target price on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $231.11.

American Tower Stock Down 0.2%

NYSE AMT opened at $179.18 on Monday. The stock’s 50-day moving average price is $192.70 and its 200-day moving average price is $207.91. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The company has a market capitalization of $83.90 billion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the company earned $2.52 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s dividend payout ratio (DPR) is 108.63%.

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.