Exchange Traded Concepts LLC Has $15 Million Stock Holdings in American Tower Corporation $AMT

Key Points

• Exchange Traded Concepts LLC significantly increased its stake in American Tower Corporation, purchasing 59,912 additional shares, resulting in total holdings worth $15 million.
• American Tower's recent earnings report showed $2.63 billion in revenue and an EPS of $2.60, surpassing analyst expectations.
• The company's next quarterly dividend of $1.70 per share will be paid on October 20th, representing an annualized yield of 3.5%.

Exchange Traded Concepts LLC raised its holdings in shares of American Tower Corporation (NYSE:AMT - Free Report) by 752.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,873 shares of the real estate investment trust's stock after buying an additional 59,912 shares during the quarter. Exchange Traded Concepts LLC's holdings in American Tower were worth $15,001,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. North Capital Inc. acquired a new position in shares of American Tower during the first quarter worth approximately $25,000. Hopwood Financial Services Inc. increased its position in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower during the first quarter valued at approximately $31,000. Lowe Wealth Advisors LLC increased its position in shares of American Tower by 218.0% during 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. bought a new stake in shares of American Tower during the first quarter valued at approximately $39,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

NYSE:AMT traded up $0.26 during trading hours on Friday, reaching $193.29. The company had a trading volume of 5,329,524 shares, compared to its average volume of 2,945,268. The stock has a 50-day moving average of $208.18 and a two-hundred day moving average of $212.97. American Tower Corporation has a one year low of $172.51 and a one year high of $238.34. The firm has a market capitalization of $90.51 billion, a PE ratio of 70.29, a PEG ratio of 1.19 and a beta of 0.86. 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 announced its earnings results 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 company had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business'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. Analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. BMO Capital Markets restated an "outperform" rating and set a $245.00 price objective (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Barclays boosted their price objective on American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Finally, Raymond James Financial set a $250.00 price objective on American Tower and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $244.73.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the stock in a transaction 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 owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company's stock.

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.