American Tower Corporation $AMT Position Lifted by Diversified Trust Co

Key Points

• Diversified Trust Co increased its position in American Tower Corporation by 195.7% during Q2, owning a total of 9,294 shares worth approximately $2.05 million.
• American Tower reported Q2 earnings of $2.60 per share, beating estimates, despite a 9.4% revenue decline year-over-year and setting a FY 2025 EPS guidance of 10.460-10.650.
• The company's quarterly dividend was announced at $1.70 per share, yielding 3.5%, with a payout ratio of 247.27%.

Diversified Trust Co lifted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 195.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,294 shares of the real estate investment trust's stock after buying an additional 6,151 shares during the quarter. Diversified Trust Co's holdings in American Tower were worth $2,054,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Elmwood Wealth Management Inc. grew its position in American Tower by 2.5% in the first quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock worth $454,000 after acquiring an additional 50 shares during the period. 4J Wealth Management LLC boosted its stake in shares of American Tower by 4.0% in the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock valued at $283,000 after buying an additional 50 shares in the last quarter. TCTC Holdings LLC increased its position in American Tower by 15.8% during the 1st quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock worth $81,000 after purchasing an additional 51 shares in the last quarter. Coyle Financial Counsel LLC grew its holdings in shares of American Tower by 2.4% during the 1st quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock worth $487,000 after purchasing an additional 53 shares during the period. Finally, Fortitude Advisory Group L.L.C. raised its position in shares of American Tower by 2.9% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,907 shares of the real estate investment trust's stock valued at $416,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Trading Up 0.5%

Shares of American Tower stock traded up $0.94 during trading on Tuesday, hitting $194.15. The stock had a trading volume of 1,080,958 shares, compared to its average volume of 2,659,786. The stock has a market cap of $90.91 billion, a PE ratio of 70.62, a PEG ratio of 1.19 and a beta of 0.86. The firm's fifty day simple moving average is $207.62 and its 200-day simple moving average is $212.91. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $238.34.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. BMO Capital Markets restated an "outperform" rating and set a $245.00 price target (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Hsbc Global Res lowered American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price target on American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.73.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the firm's 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 approximately $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.