Forza Wealth Management LLC Purchases 300 Shares of American Tower Corporation $AMT

Forza Wealth Management LLC lifted its holdings in shares of American Tower Corporation (NYSE:AMT) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,499 shares of the real estate investment trust’s stock after buying an additional 300 shares during the quarter. Forza Wealth Management LLC’s holdings in American Tower were worth $994,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AMT. Nuveen LLC acquired a new stake in shares of American Tower during the 1st quarter worth approximately $991,525,000. Price T Rowe Associates Inc. MD grew its position in shares of American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after buying an additional 2,309,627 shares during the period. Bessemer Group Inc. grew its position in shares of American Tower by 272.0% during the 1st quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock worth $247,390,000 after buying an additional 831,247 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of American Tower during the 1st quarter worth approximately $162,127,000. Finally, Amundi grew its position in shares of American Tower by 35.5% during the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after buying an additional 743,617 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $191.76 on Wednesday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.47. The firm’s 50 day moving average price is $203.87 and its two-hundred day moving average price is $212.22. The firm has a market cap of $89.79 billion, a P/E ratio of 69.73, a PEG ratio of 1.20 and a beta of 0.86.

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

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. American Tower’s payout ratio is presently 247.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AMT shares. BMO Capital Markets reiterated an “outperform” rating and set a $245.00 price target (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. UBS Group boosted their price objective on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company decreased their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $244.73.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of American Tower 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 transaction, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.