American Tower Corporation $AMT Shares Acquired by Wallington Asset Management LLC

Wallington Asset Management LLC lifted its position in shares of American Tower Corporation (NYSE:AMT) by 1.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 71,913 shares of the real estate investment trust’s stock after buying an additional 863 shares during the period. American Tower accounts for approximately 2.2% of Wallington Asset Management LLC’s portfolio, making the stock its 18th largest holding. Wallington Asset Management LLC’s holdings in American Tower were worth $15,894,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameritas Advisory Services LLC raised its stake in American Tower by 5.6% during the second quarter. Ameritas Advisory Services LLC now owns 1,197 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 64 shares during the period. Vanderbilt University raised its stake in American Tower by 8.1% during the second quarter. Vanderbilt University now owns 44,600 shares of the real estate investment trust’s stock worth $9,857,000 after purchasing an additional 3,345 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of American Tower by 8.5% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,951 shares of the real estate investment trust’s stock valued at $1,757,000 after acquiring an additional 625 shares during the period. Hilltop National Bank purchased a new position in shares of American Tower in the 2nd quarter valued at $72,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of American Tower by 15.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,921 shares of the real estate investment trust’s stock valued at $19,653,000 after acquiring an additional 11,868 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a “strong-buy” rating in a research note on Wednesday, July 30th. Barclays raised their price target on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 price target (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a report on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $242.07.

Insiders Place Their Bets

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

American Tower Trading Down 0.6%

American Tower stock opened at $190.10 on Friday. The firm’s 50-day moving average is $201.53 and its 200-day moving average is $211.76. 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 1 year low of $172.51 and a 1 year high of $234.33. The company has a market cap of $89.01 billion, a P/E ratio of 69.13, a PEG ratio of 1.18 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping 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 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. The company’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. On average, equities analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.6%. American Tower’s dividend payout ratio (DPR) is currently 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.