American Tower Corporation $AMT Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management raised its stake in American Tower Corporation (NYSE:AMT) by 9.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,322 shares of the real estate investment trust’s stock after buying an additional 2,155 shares during the period. Ritholtz Wealth Management’s holdings in American Tower were worth $5,597,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc boosted its position in American Tower by 58.4% during the second quarter. AEGON ASSET MANAGEMENT UK Plc now owns 367,364 shares of the real estate investment trust’s stock worth $81,154,000 after purchasing an additional 135,451 shares in the last quarter. Cypress Wealth Services LLC raised its stake in shares of American Tower by 1.9% during the 2nd quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust’s stock worth $593,000 after buying an additional 49 shares during the last quarter. J.Safra Asset Management Corp boosted its position in shares of American Tower by 1,327.9% in the 2nd quarter. J.Safra Asset Management Corp now owns 1,942 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 1,806 shares in the last quarter. Sagespring Wealth Partners LLC boosted its position in shares of American Tower by 19.4% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 5,106 shares of the real estate investment trust’s stock worth $1,129,000 after buying an additional 828 shares in the last quarter. Finally, Equitable Trust Co. grew its stake in American Tower by 3.6% in the 2nd quarter. Equitable Trust Co. now owns 4,827 shares of the real estate investment trust’s stock valued at $1,067,000 after acquiring an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $245.00 target price (down previously from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company lowered their price objective 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 investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $241.06.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the company’s 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 sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

American Tower Trading Up 1.8%

NYSE AMT opened at $186.43 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 one year low of $172.51 and a one year high of $234.33. The company’s 50 day moving average price is $197.68 and its 200 day moving average price is $210.40. The firm has a market capitalization of $87.30 billion, a price-to-earnings ratio of 67.79, a PEG ratio of 1.11 and a beta of 0.86.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.58 billion. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a $1.70 dividend. The ex-dividend date of this dividend 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 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.