Pittenger & Anderson Inc. Reduces Position in American Tower Corporation $AMT

Pittenger & Anderson Inc. cut its position in American Tower Corporation (NYSE:AMT) by 4.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,055 shares of the real estate investment trust’s stock after selling 184 shares during the period. Pittenger & Anderson Inc.’s holdings in American Tower were worth $896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Phoenix Financial Ltd. increased its position in shares of American Tower by 97.0% in the 2nd quarter. Phoenix Financial Ltd. now owns 3,046 shares of the real estate investment trust’s stock valued at $672,000 after purchasing an additional 1,500 shares during the last quarter. Avidian Wealth Enterprises LLC increased its position in shares of American Tower by 19.1% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 1,097 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 176 shares during the last quarter. Bogart Wealth LLC increased its position in shares of American Tower by 54.6% in the 2nd quarter. Bogart Wealth LLC now owns 57,563 shares of the real estate investment trust’s stock valued at $12,723,000 after purchasing an additional 20,330 shares during the last quarter. FLC Capital Advisors purchased a new stake in shares of American Tower in the 2nd quarter valued at approximately $223,000. Finally, Accretive Wealth Partners LLC grew its position in shares of American Tower by 1.5% in the 2nd quarter. Accretive Wealth Partners LLC now owns 4,354 shares of the real estate investment trust’s stock valued at $962,000 after buying an additional 63 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the firm’s 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 owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMT shares. Jefferies Financial Group cut their price target on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Morgan Stanley cut their price target on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $236.75.

American Tower Trading Down 0.4%

Shares of American Tower stock opened at $192.35 on Wednesday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. 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 company has a market capitalization of $90.07 billion, a P/E ratio of 69.95, a PEG ratio of 1.17 and a beta of 0.86. The company’s fifty day moving average is $196.13 and its two-hundred day moving average is $209.39.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the firm posted $2.79 EPS. American Tower’s revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) 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.