American Tower Corporation $AMT Shares Acquired by PDS Planning Inc

PDS Planning Inc lifted its stake in shares of American Tower Corporation (NYSE:AMT) by 56.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,481 shares of the real estate investment trust’s stock after acquiring an additional 1,616 shares during the quarter. PDS Planning Inc’s holdings in American Tower were worth $990,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Focus Financial Network Inc. grew its position in American Tower by 9.1% in the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 170 shares during the last quarter. Resolution Capital Ltd acquired a new position in American Tower in the first quarter worth approximately $72,706,000. Golden State Wealth Management LLC grew its position in American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 69 shares during the last quarter. Shum Financial Group Inc. grew its position in American Tower by 3.5% in the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock worth $913,000 after buying an additional 141 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in American Tower by 126.0% in the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock worth $21,215,000 after buying an additional 54,360 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $186.60 on Friday. The company has a market capitalization of $87.38 billion, a PE ratio of 67.85, a price-to-earnings-growth ratio of 1.12 and a beta of 0.86. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The company’s fifty day moving average price is $198.75 and its 200 day moving average price is $210.81.

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

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. American Tower’s payout ratio is presently 247.27%.

Analysts Set New Price Targets

Several research analysts have issued reports on AMT shares. HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target on the stock. in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a research note on Wednesday. Barclays raised their price objective 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. UBS Group raised their price objective 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. Finally, Wells Fargo & Company decreased their target price on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.07.

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.