American Tower Corporation $AMT Shares Acquired by Bogart Wealth LLC

Key Points

• Bogart Wealth LLC increased its stake in American Tower Corporation by 54.6% during the second quarter, acquiring a total of 57,563 shares worth approximately $12.7 million.
• American Tower's CEO, Juan Font, sold 720 shares during a recent transaction, leading to a 2.98% decrease in his ownership.
• Analysts have recently adjusted their price targets for American Tower, with Wells Fargo lowering it from $240 to $230 while maintaining an "overweight" rating on the stock.

Bogart Wealth LLC raised its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 54.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,563 shares of the real estate investment trust's stock after purchasing an additional 20,330 shares during the quarter. Bogart Wealth LLC's holdings in American Tower were worth $12,723,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Focus Financial Network Inc. raised its holdings in shares of American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust's stock worth $451,000 after purchasing an additional 170 shares during the last quarter. Resolution Capital Ltd purchased a new position in shares of American Tower during the first quarter worth $72,706,000. Stack Financial Management Inc purchased a new position in shares of American Tower during the second quarter worth $13,020,000. Golden State Wealth Management LLC raised its holdings in shares of American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 69 shares during the last quarter. Finally, Shum Financial Group Inc. raised its holdings in shares of American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AMT has been the subject of several recent research reports. Wells Fargo & Company reduced their target price on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Jefferies Financial Group cut their price objective on shares of American Tower from $281.00 to $226.00 and set a "buy" rating for the company in a report on Monday, October 13th. Wall Street Zen raised shares of American Tower from a "sell" rating to a "hold" rating in a report on Sunday, October 12th. Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the company a "sector perform" rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of American Tower in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $238.00.

American Tower Stock Up 0.1%

AMT stock opened at $191.60 on Monday. The stock has a market capitalization of $89.72 billion, a P/E ratio of 69.67, a P/E/G ratio of 1.16 and a beta of 0.86. The firm has a 50-day simple moving average of $196.63 and a 200-day simple moving average of $209.70. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results 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. The business had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company's quarterly revenue was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Equities analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business 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 dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. American Tower's payout ratio is currently 247.27%.

American Tower 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.

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