DMC Group LLC Has $543,000 Stock Holdings in American Tower Corporation $AMT

DMC Group LLC raised its position in shares of American Tower Corporation (NYSE:AMT) by 9.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,459 shares of the real estate investment trust’s stock after purchasing an additional 216 shares during the quarter. DMC Group LLC’s holdings in American Tower were worth $543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. 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 worth $13,667,344,000 after buying an additional 434,118 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in 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 worth $1,772,144,000 after acquiring an additional 2,309,627 shares during the period. Deutsche Bank AG grew its holdings in 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 worth $1,606,621,000 after acquiring an additional 285,195 shares during the period. Dimensional Fund Advisors LP grew its stake in American Tower by 1.4% during 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. grew its stake in American Tower by 3.7% during 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 purchasing an additional 220,565 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Barclays raised their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price for the company. in a research note on Wednesday, July 30th. Wells Fargo & Company reduced their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $242.07.

American Tower Trading Up 0.6%

NYSE:AMT opened at $186.71 on Wednesday. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50-day moving average of $200.19 and a 200-day moving average of $211.34. The company has a market cap of $87.43 billion, a PE ratio of 67.89, a PEG ratio of 1.15 and a beta of 0.86. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the company posted $2.79 EPS. The company’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. As a group, equities research analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. American Tower’s dividend payout ratio is presently 247.27%.

Insider Activity

In other American Tower news, CEO Juan Font sold 720 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were 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 directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

About American Tower

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.