Brogan Financial Inc. Acquires 667 Shares of American Tower Corporation $AMT

Brogan Financial Inc. grew its stake in shares of American Tower Corporation (NYSE:AMT) by 45.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,146 shares of the real estate investment trust’s stock after purchasing an additional 667 shares during the quarter. Brogan Financial Inc.’s holdings in American Tower were worth $474,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Focus Financial Network Inc. grew its position in shares of American Tower by 9.1% during the 2nd 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 in the last quarter. Resolution Capital Ltd purchased a new stake in American Tower in the first quarter worth about $72,706,000. Stack Financial Management Inc bought a new position in American Tower during the 2nd quarter worth about $13,020,000. Los Angeles Capital Management LLC increased its position in American Tower by 52.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock valued at $71,094,000 after purchasing an additional 110,671 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its position in American Tower by 126.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after purchasing an additional 54,360 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Jefferies Financial Group cut their price target on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a report on Monday, October 13th. The Goldman Sachs Group decreased their price objective on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, Argus set a $210.00 target price on American Tower in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.11.

American Tower Stock Down 0.8%

American Tower stock opened at $183.34 on Thursday. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The business has a fifty day moving average price of $188.94 and a 200-day moving average price of $205.91. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. The stock has a market capitalization of $85.83 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 1.08 and a beta of 0.85.

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

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s payout ratio is currently 108.63%.

Insiders Place Their Bets

In related news, Director Eugene F. Reilly purchased 5,554 shares of the business’s stock in a transaction on Friday, October 31st. The shares were acquired at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the purchase, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

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.