American Tower Corporation $AMT Shares Bought by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in American Tower Corporation by 3.7%, now holding 38,975 shares valued at approximately $8.6 million.
• Several analysts have set new price targets for American Tower, with most recent adjustments placing the target between $250 and $260, reflecting a positive outlook for the stock.
• The company declared a quarterly dividend of $1.70 per share, yielding 3.5%, with a high payout ratio of 247.27%.

HB Wealth Management LLC raised its position in American Tower Corporation (NYSE:AMT - Free Report) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,975 shares of the real estate investment trust's stock after acquiring an additional 1,403 shares during the quarter. HB Wealth Management LLC's holdings in American Tower were worth $8,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMT. Blossom Wealth Management boosted its holdings in American Tower by 1.8% in the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust's stock valued at $575,000 after purchasing an additional 45 shares in the last quarter. Novem Group grew its position in American Tower by 3.8% during the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust's stock worth $291,000 after purchasing an additional 48 shares during the last quarter. Elmwood Wealth Management Inc. increased its position in American Tower by 2.5% in the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock valued at $454,000 after acquiring an additional 50 shares during the period. 4J Wealth Management LLC raised its stake in American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock valued at $283,000 after acquiring an additional 50 shares during the last quarter. Finally, TCTC Holdings LLC grew its stake in shares of American Tower by 15.8% in the 1st quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock valued at $81,000 after purchasing an additional 51 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. UBS Group lifted their target price on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. 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 report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Barclays boosted their target price on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $244.73.

American Tower Trading Down 1.4%

NYSE:AMT opened at $191.76 on Wednesday. The company has a market capitalization of $89.79 billion, a PE ratio of 69.73, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.47. The stock has a fifty day simple moving average of $203.87 and a 200-day simple moving average of $212.22. 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 posted 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. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the company earned $2.79 EPS. 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. On average, equities research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.5%. American Tower's payout ratio is 247.27%.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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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