Focus Financial Network Inc. raised its holdings in shares of American Tower Corporation (NYSE:AMT – Free Report) by 9.1% during the second quarter, HoldingsChannel reports. The fund owned 2,042 shares of the real estate investment trust’s stock after purchasing an additional 170 shares during the quarter. Focus Financial Network Inc.’s holdings in American Tower were worth $451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. North Capital Inc. purchased a new position in shares of American Tower during the 1st quarter valued at $25,000. Hopwood Financial Services Inc. boosted its position in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower during the first quarter worth about $31,000. Lowe Wealth Advisors LLC boosted its holdings in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 109 shares during the period. Finally, City Holding Co. bought a new position in shares of American Tower in the 1st quarter worth approximately $39,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at American Tower
In other news, CEO Juan Font sold 720 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on AMT shares. Wells Fargo & Company decreased their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Barclays lifted their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Finally, UBS Group lifted their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average price target of $244.73.
Check Out Our Latest Stock Analysis on American Tower
American Tower Stock Performance
Shares of NYSE:AMT opened at $193.29 on Friday. The company has a market capitalization of $90.51 billion, a price-to-earnings ratio of 70.29, a PEG ratio of 1.19 and a beta of 0.86. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $238.34. The firm’s 50-day moving average is $208.18 and its 200 day moving average is $213.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.
American Tower (NYSE:AMT – Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 12.60% and a return on equity of 24.85%. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.
American Tower Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. 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.
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