American Tower Corporation $AMT Shares Acquired by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC significantly increased its holdings in American Tower Corporation by 96.1% during Q2, now owning 6,339 shares worth approximately $1.4 million.
• American Tower has received mixed ratings from analysts, with the price target ranging from $244.73 to $260.00, indicating a consensus rating of "Moderate Buy."
• The company recently announced a quarterly dividend of $1.70, yielding 3.5%, with a notably high dividend payout ratio of 247.27%.

Farther Finance Advisors LLC grew its holdings in American Tower Corporation (NYSE:AMT - Free Report) by 96.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,339 shares of the real estate investment trust's stock after purchasing an additional 3,106 shares during the quarter. Farther Finance Advisors LLC's holdings in American Tower were worth $1,401,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AMT. Nuveen LLC acquired a new stake in shares of American Tower in the first quarter valued at approximately $991,525,000. Price T Rowe Associates Inc. MD boosted its position in American Tower by 39.6% during the first 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 last quarter. GAMMA Investing LLC boosted its position in American Tower by 23,627.3% during the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust's stock worth $370,346,000 after acquiring an additional 1,694,784 shares during the last quarter. Bessemer Group Inc. boosted its position in American Tower by 272.0% during the first quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust's stock worth $247,390,000 after acquiring an additional 831,247 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in American Tower during the first quarter worth approximately $162,127,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Hsbc Global Res lowered shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. UBS Group raised their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Barclays raised their target price on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, Royal Bank Of Canada increased their price target on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, American Tower has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company's stock.

American Tower Stock Performance

NYSE:AMT opened at $194.34 on Wednesday. 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 company has a market cap of $91.00 billion, a P/E ratio of 70.67, a P/E/G ratio of 1.19 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 $238.34. The firm's 50 day moving average is $207.13 and its two-hundred day moving average is $212.78.

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

American Tower Dividend Announcement

The firm 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. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower's dividend payout ratio (DPR) 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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