Cross Staff Investments Inc Acquires 277 Shares of American Tower Corporation $AMT

Cross Staff Investments Inc raised its holdings in shares of American Tower Corporation (NYSE:AMT) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,381 shares of the real estate investment trust’s stock after acquiring an additional 277 shares during the period. American Tower comprises approximately 1.0% of Cross Staff Investments Inc’s portfolio, making the stock its 26th biggest holding. Cross Staff Investments Inc’s holdings in American Tower were worth $1,410,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. North Capital Inc. purchased a new stake in shares of American Tower during the first quarter valued at approximately $25,000. Hopwood Financial Services Inc. boosted its stake in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of American Tower during the first quarter valued at approximately $31,000. Saudi Central Bank purchased a new stake in shares of American Tower during the first quarter valued at approximately $40,000. Finally, Accredited Wealth Management LLC boosted its stake in shares of American Tower by 180.0% during the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 135 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

Shares of American Tower stock opened at $186.60 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm has a market capitalization 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 business has a fifty day simple moving average of $198.75 and a two-hundred day simple moving average of $210.81. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The company’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company 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 dividend of $1.70 per share. 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 currently 247.27%.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of analyst reports. UBS Group increased their price objective on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. raised their price target on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Wall Street Zen lowered American Tower from a “hold” rating to a “sell” rating in a research note on Saturday, October 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $242.07.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction 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 approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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.