Divergent Planning LLC Makes New $628,000 Investment in American Tower Corporation $AMT

Key Points

• Divergent Planning LLC invested $628,000 in American Tower Corporation, acquiring 2,843 shares during the second quarter.
• American Tower's CEO, Juan Font, sold 720 shares at approximately $208.33 each, a move that reduced his ownership stake by 2.98%.
• The company declared a quarterly dividend of $1.70 per share, providing an annual yield of 3.5% and a high dividend payout ratio of 247.27%.

Divergent Planning LLC bought a new position in American Tower Corporation (NYSE:AMT - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,843 shares of the real estate investment trust's stock, valued at approximately $628,000.

Other hedge funds have also recently made changes to their positions in the company. Probity Advisors Inc. increased its stake in shares of American Tower by 7.1% in the second quarter. Probity Advisors Inc. now owns 2,320 shares of the real estate investment trust's stock valued at $513,000 after buying an additional 153 shares during the period. Phoenix Financial Ltd. increased its position in American Tower by 97.0% in the 2nd quarter. Phoenix Financial Ltd. now owns 3,046 shares of the real estate investment trust's stock valued at $672,000 after acquiring an additional 1,500 shares during the period. Avidian Wealth Enterprises LLC raised its stake in shares of American Tower by 19.1% during the second quarter. Avidian Wealth Enterprises LLC now owns 1,097 shares of the real estate investment trust's stock valued at $242,000 after acquiring an additional 176 shares during the last quarter. Bogart Wealth LLC lifted its holdings in shares of American Tower by 54.6% during the second quarter. Bogart Wealth LLC now owns 57,563 shares of the real estate investment trust's stock worth $12,723,000 after purchasing an additional 20,330 shares during the period. Finally, FLC Capital Advisors bought a new stake in shares of American Tower in the second quarter worth $223,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the firm'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 value of $149,997.60. Following the completion of the sale, the chief executive officer owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

American Tower Price Performance

Shares of AMT opened at $192.89 on Tuesday. The firm has a market cap of $90.32 billion, a PE ratio of 70.14, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The business's 50 day moving average price is $196.37 and its two-hundred day moving average price is $209.51. 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 (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the firm earned $2.79 earnings per share. 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 analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower's dividend payout ratio is 247.27%.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent research reports. Wells Fargo & Company cut their target price on American Tower from $230.00 to $210.00 and set an "overweight" rating on the stock in a report on Monday. UBS Group raised their price objective on American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. BMO Capital Markets reduced their target price on American Tower from $245.00 to $220.00 and set an "outperform" rating on the stock in a report on Friday. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Citigroup dropped their price target on shares of American Tower from $250.00 to $225.00 and set a "buy" rating on the stock in a research report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $236.75.

American Tower Company 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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