American Tower Corporation $AMT Shares Bought by Camelot Portfolios LLC

Key Points

• Camelot Portfolios LLC increased its stake in American Tower Corporation by 118.4%, now holding 4,497 shares valued at nearly $1 million.
• Analysts are optimistic about the company, with most giving it a "Moderate Buy" rating and a consensus price target of $244.73.
• American Tower announced a quarterly dividend of $1.70 per share, reflecting a yield of 3.5%, with a high payout ratio of 247.27%.

Camelot Portfolios LLC grew its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 118.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,497 shares of the real estate investment trust's stock after purchasing an additional 2,438 shares during the quarter. Camelot Portfolios LLC's holdings in American Tower were worth $994,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Tritonpoint Wealth LLC lifted its stake in shares of American Tower by 6.5% in the second quarter. Tritonpoint Wealth LLC now owns 1,077 shares of the real estate investment trust's stock worth $240,000 after acquiring an additional 66 shares in the last quarter. Avior Wealth Management LLC raised its stake in American Tower by 150.1% during the second quarter. Avior Wealth Management LLC now owns 2,206 shares of the real estate investment trust's stock valued at $488,000 after buying an additional 1,324 shares in the last quarter. Blossom Wealth Management raised its stake in American Tower by 1.8% during the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust's stock valued at $575,000 after buying an additional 45 shares in the last quarter. LVW Advisors LLC raised its stake in American Tower by 24.9% during the second quarter. LVW Advisors LLC now owns 7,219 shares of the real estate investment trust's stock valued at $1,596,000 after buying an additional 1,437 shares in the last quarter. Finally, TOWER TRUST & INVESTMENT Co raised its stake in American Tower by 3.1% during the second quarter. TOWER TRUST & INVESTMENT Co now owns 5,072 shares of the real estate investment trust's stock valued at $1,121,000 after buying an additional 152 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Royal Bank Of Canada upped their target price on American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. BMO Capital Markets reissued an "outperform" rating and issued a $245.00 price objective (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. increased their price objective on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $244.73.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by insiders.

American Tower Price Performance

AMT opened at $194.40 on Friday. The stock has a fifty day moving average of $205.32 and a 200-day moving average of $212.44. The firm has a market capitalization of $91.03 billion, a P/E ratio of 70.69, a PEG ratio of 1.20 and a beta of 0.86. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.47. 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 (NYSE:AMT - Get Free Report) last released its earnings results 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 company 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 company's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior 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 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given 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 presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.