Probity Advisors Inc. Increases Position in American Tower Corporation $AMT

Probity Advisors Inc. increased its position in shares of American Tower Corporation (NYSE:AMT) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,320 shares of the real estate investment trust’s stock after acquiring an additional 153 shares during the period. Probity Advisors Inc.’s holdings in American Tower were worth $513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMT. Brighton Jones LLC boosted its stake in shares of American Tower by 113.0% in the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after buying an additional 2,104 shares during the period. GAMMA Investing LLC grew its holdings in shares of American Tower by 9.0% during the first quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust’s stock worth $1,702,000 after purchasing an additional 648 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in American Tower during the first quarter worth approximately $221,000. Cambridge Investment Research Advisors Inc. raised its position in American Tower by 7.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 42,998 shares of the real estate investment trust’s stock valued at $9,356,000 after purchasing an additional 2,895 shares during the last quarter. Finally, Jericho Financial LLP raised its holdings in shares of American Tower by 20.2% in the first quarter. Jericho Financial LLP now owns 13,962 shares of the real estate investment trust’s stock valued at $3,038,000 after buying an additional 2,344 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $192.89 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The firm has a 50-day simple moving average of $196.37 and a 200 day simple moving average of $209.51. The company has a market cap of $90.32 billion, a PE ratio of 70.14, a P/E/G ratio of 1.16 and a beta of 0.86. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33.

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, beating analysts’ consensus estimates 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 business’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were given a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.5%. American Tower’s dividend payout ratio is 247.27%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. HSBC downgraded shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a report on Wednesday, July 30th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research report on Wednesday, October 8th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Finally, Citigroup cut their target price on American Tower from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $236.75.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred 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 sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.18% 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.