Lido Advisors LLC Has $29.15 Million Stock Position in American Tower Corporation $AMT

Lido Advisors LLC lifted its holdings in American Tower Corporation (NYSE:AMT) by 1.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 130,966 shares of the real estate investment trust’s stock after acquiring an additional 1,746 shares during the quarter. Lido Advisors LLC’s holdings in American Tower were worth $29,150,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in American Tower by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock valued at $13,930,530,000 after purchasing an additional 218,881 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after buying an additional 2,474,328 shares during the period. Price T Rowe Associates Inc. MD grew its position in American Tower by 39.6% during the first 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 in the last quarter. Deutsche Bank AG lifted its position in shares of American Tower by 4.0% during the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after acquiring an additional 285,195 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of American Tower by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock worth $1,421,965,000 after purchasing an additional 88,120 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Stock Up 0.4%

Shares of NYSE:AMT opened at $181.95 on Friday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a market capitalization of $85.18 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The company has a fifty day moving average of $185.59 and a 200-day moving average of $202.73.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the business posted $2.52 EPS. American Tower’s revenue for the quarter was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is 108.63%.

Insider Buying and Selling

In other American Tower news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the transaction, the director directly owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on AMT. TD Cowen decreased their target price on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a research report on Tuesday. Morgan Stanley decreased their price objective on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Raymond James Financial restated a “strong-buy” rating and set a $231.00 target price (down from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. Finally, Citigroup reiterated a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $228.44.

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.