Applied Capital LLC FL Boosts Stock Position in American Tower Corporation $AMT

Applied Capital LLC FL increased its stake in American Tower Corporation (NYSE:AMT) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,761 shares of the real estate investment trust’s stock after purchasing an additional 136 shares during the quarter. Applied Capital LLC FL’s holdings in American Tower were worth $1,052,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMT. Vanguard Group Inc. increased its position in shares of American Tower by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock valued at $13,667,344,000 after buying an additional 434,118 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after purchasing an additional 2,309,627 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of American Tower by 4.0% in the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock worth $1,606,621,000 after purchasing an additional 285,195 shares during the period. Dimensional Fund Advisors LP increased its holdings 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. Finally, Principal Financial Group Inc. raised its position in shares of American Tower by 3.7% in the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock worth $1,335,407,000 after buying an additional 220,565 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent analyst reports. BMO Capital Markets restated an “outperform” rating and set a $245.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. 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 report on Wednesday, July 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $242.07.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by company insiders.

American Tower Price Performance

AMT stock opened at $186.60 on Friday. The firm has a market cap of $87.38 billion, a P/E ratio of 67.85, a P/E/G ratio of 1.12 and a beta of 0.86. The firm’s fifty day moving average is $198.75 and its 200 day moving average is $210.81. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. 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 (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share 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 business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm posted $2.79 earnings per share. The firm’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. Research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

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