American Tower Corporation $AMT Stock Position Reduced by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its position in American Tower Corporation (NYSE:AMT) by 22.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,532 shares of the real estate investment trust’s stock after selling 5,790 shares during the quarter. Ritholtz Wealth Management’s holdings in American Tower were worth $3,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AMT. Brighton Jones LLC boosted its holdings in shares of American Tower by 113.0% in the 4th 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 period. Balefire LLC lifted its holdings in American Tower by 14.1% in the second quarter. Balefire LLC now owns 1,597 shares of the real estate investment trust’s stock worth $353,000 after acquiring an additional 197 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in American Tower by 34.3% in the second quarter. Sivia Capital Partners LLC now owns 1,442 shares of the real estate investment trust’s stock valued at $319,000 after acquiring an additional 368 shares during the period. Focus Financial Network Inc. grew its holdings in shares of American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 170 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of American Tower by 5.2% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 63,163 shares of the real estate investment trust’s stock valued at $13,960,000 after purchasing an additional 3,146 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares in the company, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eugene F. Reilly acquired 5,554 shares of American Tower stock in a transaction dated Friday, October 31st. The shares were acquired at an average price of $178.99 per share, with a total value of $994,110.46. Following the transaction, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMT. UBS Group restated a “buy” rating on shares of American Tower in a research report on Wednesday, December 10th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $231.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. BMO Capital Markets lowered shares of American Tower from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $210.00 to $185.00 in a research note on Friday, January 9th. Finally, Scotiabank decreased their price objective on American Tower from $248.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $220.26.

Key American Tower News

Here are the key news stories impacting American Tower this week:

• Positive Sentiment: CoreSite (an AMT subsidiary) launched native 400G AWS Direct Connect in Chicago, improving capacity and latency for high?bandwidth cloud and AI workloads — a revenue?supportive infrastructure enhancement for AMT’s data?center business. AMT’s CoreSite Launches Native 400G AWS Direct Connect in Chicago
• Neutral Sentiment: CoreSite launch also reported by industry press (provides additional detail on customer/use?case benefits and local market positioning). CoreSite Chicago Data Center Campus Now Offers AWS Native 400G Direct Connect
• Neutral Sentiment: AMT is named as a partner in coverage of AST SpaceMobile’s government/commercial activity — a reminder of AMT’s exposure to growing non?tower connectivity opportunities but not a direct near?term earnings driver. Pentagon Deal Sends AST SpaceMobile Soaring—Is This the Next Leg Up? (AMT)
• Negative Sentiment: Mizuho cut its price target on AMT to $189 from $217 while keeping a Neutral rating — a signal that valuation expectations within the REIT group were lowered and that analysts see less near?term upside. Mizuho Reduces the Firm’s PT on American Tower (AMT) stock
• Negative Sentiment: RBC Capital/MarketScreener adjusted its price target to $195 from $220 and reiterated a sector?perform/hold view, which reduces analyst?driven upside and can cap short?term gains. RBC Capital Reaffirms Their Hold Rating on American Tower (AMT)

American Tower Trading Up 1.3%

Shares of NYSE:AMT opened at $183.82 on Friday. The company has a 50 day moving average of $177.86 and a 200-day moving average of $193.45. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a market cap of $86.06 billion, a P/E ratio of 29.36, a P/E/G ratio of 0.73 and a beta of 0.92. American Tower Corporation has a twelve month low of $166.88 and a twelve month high of $234.33.

American Tower (NYSE:AMT) last announced its earnings results 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. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, December 29th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s payout ratio is currently 108.63%.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.