Silver Oak Securities Incorporated Has $1.16 Million Stock Holdings in American Tower Corporation $AMT

Key Points

• Silver Oak Securities Incorporated boosted its stake in American Tower Corporation by 126.8% during the 2nd quarter, owning 5,260 shares valued at $1,163,000.
• American Tower reported $2.60 EPS for the last quarter, slightly surpassing analysts' estimates of $2.59, despite a 9.4% year-over-year revenue decline.
• The company recently declared a $1.70 quarterly dividend, translating to an annualized dividend of $6.80 and a yield of 3.5%.

Silver Oak Securities Incorporated increased its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 126.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,260 shares of the real estate investment trust's stock after purchasing an additional 2,941 shares during the period. Silver Oak Securities Incorporated's holdings in American Tower were worth $1,163,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new position in American Tower in the first quarter worth approximately $25,000. Hopwood Financial Services Inc. grew its position in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after buying an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in American Tower in the first quarter worth approximately $31,000. Lowe Wealth Advisors LLC grew its position in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock worth $35,000 after buying an additional 109 shares during the last quarter. Finally, City Holding Co. acquired a new position in American Tower in the first quarter worth approximately $39,000. Institutional investors own 92.69% of the company's stock.

Insiders Place Their Bets

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 transaction of $149,997.60. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMT shares. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. UBS Group lifted their price objective 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. Wells Fargo & Company lowered their price objective on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $244.73.

American Tower Price Performance

NYSE AMT traded up $1.26 on Tuesday, reaching $194.47. The company's stock had a trading volume of 1,146,515 shares, compared to its average volume of 2,660,109. The firm has a market cap of $91.06 billion, a PE ratio of 70.70, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The business has a 50-day moving average price of $207.62 and a 200 day moving average price of $212.91. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $238.34. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion for 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 firm's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower's dividend 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.