Thurston Springer Miller Herd & Titak Inc. Has $159,000 Holdings in American Tower Corporation $AMT

Thurston Springer Miller Herd & Titak Inc. cut its holdings in American Tower Corporation (NYSE:AMT) by 92.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 829 shares of the real estate investment trust’s stock after selling 10,315 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in American Tower were worth $159,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new stake in shares of American Tower during the 2nd quarter worth $31,000. VSM Wealth Advisory LLC boosted its stake in American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 90 shares during the period. Rosenberg Matthew Hamilton grew its holdings in American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. Saudi Central Bank bought a new position in shares of American Tower during the 1st quarter worth about $40,000. Finally, Winnow Wealth LLC bought a new position in American Tower in the second quarter worth $44,000. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AMT. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday, October 12th. Citigroup reissued a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group cut their target price on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Finally, UBS Group restated a “buy” rating on shares of American Tower in a research report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.00.

American Tower Stock Down 0.5%

AMT stock opened at $179.28 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The business has a 50 day moving average price of $182.57 and a two-hundred day moving average price of $199.85. The company has a market cap of $83.93 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 0.72 and a beta of 0.91. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33.

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

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

Insider Activity at American Tower

In related news, Director Eugene F. Reilly bought 5,554 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were purchased at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the purchase, the director owned 5,689 shares in the company, valued at $1,018,274.11. This represents a 4,114.07% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. The trade was a 91.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.18% of the company’s stock.

American Tower 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.