Balboa Wealth Partners Acquires Shares of 3,314 American Tower Corporation $AMT

Key Points

• Balboa Wealth Partners acquired 3,314 shares of American Tower Corporation, valued at approximately $732,000, as reported in their recent SEC filing.
• American Tower's CEO, Juan Font, sold 720 shares of stock, reducing his ownership by 2.98%, while institutional investors hold approximately 92.69% of the company's shares.
• The company recently announced a quarterly dividend of $1.70 per share, representing a 3.5% yield and a payout ratio of 247.27%.

Balboa Wealth Partners acquired a new stake in American Tower Corporation (NYSE:AMT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,314 shares of the real estate investment trust's stock, valued at approximately $732,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of American Tower by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust's stock worth $13,667,344,000 after purchasing an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 valued at $1,772,144,000 after buying an additional 2,309,627 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of American Tower by 4.0% during the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust's stock valued at $1,606,621,000 after buying an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of American Tower by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust's stock valued at $1,421,965,000 after buying an additional 88,120 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of American Tower by 3.7% during the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock valued at $1,335,407,000 after buying an additional 220,565 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Insider Transactions at American Tower

In related news, CEO Juan Font sold 720 shares of the stock in a transaction dated 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 transaction, the chief executive officer 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 document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Stock Up 0.1%

Shares of AMT opened at $191.60 on Monday. The company has a 50-day simple moving average of $196.63 and a 200-day simple moving average of $209.70. The firm has a market capitalization of $89.72 billion, a P/E ratio of 69.67, a P/E/G ratio of 1.16 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33.

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 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion during 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 firm's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.79 earnings per share. 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 year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a $1.70 dividend. 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 247.27%.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent analyst reports. Wall Street Zen raised American Tower from a "sell" rating to a "hold" rating in a report on Sunday, October 12th. Morgan Stanley lowered their price objective on shares of American Tower from $270.00 to $235.00 and set an "overweight" rating on the stock in a research report on Thursday. 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. Barclays boosted their price target on shares of American Tower from $250.00 to $251.00 and gave the company an "overweight" rating in a report on Friday. Finally, Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $238.00.

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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