Miller Howard Investments Inc. NY Has $11.91 Million Position in American Tower Corporation $AMT

Key Points

• Miller Howard Investments Inc. NY increased its holdings in American Tower Corporation by 3.4%, bringing its total ownership to 53,887 shares valued at approximately $11.91 million.
• American Tower's quarterly earnings report showed an earnings per share (EPS) of $2.60, slightly beating analysts' expectations, but revenue was down 9.4% year-over-year.
• The company recently announced a quarterly dividend of $1.70 per share, which reflects a 3.5% dividend yield and is part of an annualized dividend of $6.80.

Miller Howard Investments Inc. NY boosted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 3.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,887 shares of the real estate investment trust's stock after purchasing an additional 1,792 shares during the quarter. Miller Howard Investments Inc. NY's holdings in American Tower were worth $11,910,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. North Capital Inc. acquired a new position in shares of American Tower in the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. boosted its stake in shares of 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 valued at $26,000 after buying an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of American Tower in the 1st quarter valued at $31,000. Lowe Wealth Advisors LLC increased its holdings 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 valued at $35,000 after purchasing an additional 109 shares during the period. Finally, City Holding Co. acquired a new stake in American Tower during the 1st quarter worth about $39,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMT has been the subject of several research analyst reports. UBS Group raised their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Barclays upped their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. BMO Capital Markets restated an "outperform" rating and set a $245.00 price objective (down previously from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Finally, Hsbc Global Res downgraded shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Two 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $244.73.

American Tower Price Performance

Shares of AMT traded up $0.64 during trading hours on Tuesday, reaching $193.85. The company had a trading volume of 622,861 shares, compared to its average volume of 2,657,199. The company has a market capitalization of $90.77 billion, a price-to-earnings ratio of 70.49, a PEG ratio of 1.19 and a beta of 0.86. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $238.34. The firm has a 50 day simple moving average of $207.62 and a 200-day simple moving average of $212.91. 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 announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company's revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Juan Font sold 720 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was 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 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 SEC, which is accessible through the SEC website. Company insiders own 0.18% of the company's stock.

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.