1,768 Shares in American Tower Corporation $AMT Bought by McElhenny Sheffield Capital Management LLC

Key Points

• McElhenny Sheffield Capital Management LLC purchased 1,768 shares of American Tower Corporation at a value of approximately $391,000, indicating growing institutional interest in the stock.
• American Tower reported a quarterly earnings per share of $2.60, slightly above the consensus estimate, despite a 9.4% year-over-year revenue decline.
• The company announced a quarterly dividend of $1.70 per share, translating to an annualized yield of 3.7%, on top of a substantial dividend payout ratio.

McElhenny Sheffield Capital Management LLC purchased a new stake in American Tower Corporation (NYSE:AMT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,768 shares of the real estate investment trust's stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. North Capital Inc. purchased a new stake in American Tower in the 1st quarter valued at $25,000. Hopwood Financial Services Inc. raised its position in American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower in the 1st quarter valued at $31,000. Saudi Central Bank purchased a new stake in American Tower in the 1st quarter valued at $40,000. Finally, Accredited Wealth Management LLC raised its position in American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust's stock valued at $46,000 after buying an additional 135 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

American Tower Trading Down 0.2%

Shares of AMT opened at $185.16 on Friday. The business has a 50-day moving average of $199.26 and a 200 day moving average of $210.97. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The firm has a market cap of $86.70 billion, a P/E ratio of 67.33, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. 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 - Get Free Report) last announced its quarterly earnings data 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 return on equity of 24.85% and a net margin of 12.60%.The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm posted $2.79 EPS. 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. As a group, research analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders 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 yield of 3.7%. American Tower's dividend payout ratio (DPR) is currently 247.27%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AMT shares. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a "sector perform" rating in a research report on Wednesday, October 1st. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Raymond James Financial set a $250.00 target price on American Tower and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. BMO Capital Markets reaffirmed 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. Finally, Wells Fargo & Company decreased their target price on American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research report 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 MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $242.07.

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.

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