Brookstone Capital Management Purchases 245 Shares of American Tower Corporation $AMT

Brookstone Capital Management lifted its position in American Tower Corporation (NYSE:AMT) by 3.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,608 shares of the real estate investment trust’s stock after purchasing an additional 245 shares during the period. Brookstone Capital Management’s holdings in American Tower were worth $1,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. North Capital Inc. bought a new position in shares of American Tower in the first quarter worth approximately $25,000. Hopwood Financial Services Inc. grew its holdings in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Saudi Central Bank bought a new position in shares of American Tower in the first quarter worth approximately $40,000. Finally, Accredited Wealth Management LLC grew its holdings in shares of American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.6%

Shares of NYSE AMT opened at $191.36 on Friday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The stock has a market cap of $89.60 billion, a P/E ratio of 69.58, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. The firm has a 50-day moving average of $195.30 and a 200 day moving average of $209.02. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) 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 company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the company posted $2.79 EPS. American Tower’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. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s payout ratio is currently 247.27%.

Analysts Set New Price Targets

Several research firms recently weighed in on AMT. Citigroup cut their price target on shares of American Tower from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Royal Bank Of Canada set a $220.00 price target on shares of American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Jefferies Financial Group cut their price target on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of American Tower in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.75.

Insider Activity

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

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.