FSM Wealth Advisors LLC Increases Holdings in American Tower Corporation $AMT

Key Points

• FSM Wealth Advisors LLC increased its stake in American Tower Corporation by 33.4%, owning a total of 5,823 shares worth approximately $1.28 million as of the end of the second quarter.
• American Tower recently reported $2.60 earnings per share for the quarter, surpassing estimates by $0.01, despite a 9.4% year-over-year revenue decline.
• The company announced a quarterly dividend of $1.70 per share, reflecting an annualized yield of 3.6% despite a high dividend payout ratio of 247.27%.

FSM Wealth Advisors LLC increased its stake in American Tower Corporation (NYSE:AMT - Free Report) by 33.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,823 shares of the real estate investment trust's stock after purchasing an additional 1,459 shares during the quarter. FSM Wealth Advisors LLC's holdings in American Tower were worth $1,281,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AMT. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in American Tower by 0.6% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,392,450 shares of the real estate investment trust's stock worth $307,760,000 after buying an additional 7,945 shares in the last quarter. Principle Wealth Partners LLC grew its holdings in shares of American Tower by 6.1% during the second quarter. Principle Wealth Partners LLC now owns 3,117 shares of the real estate investment trust's stock worth $689,000 after purchasing an additional 180 shares in the last quarter. Ethic Inc. grew its holdings in shares of American Tower by 15.4% during the second quarter. Ethic Inc. now owns 52,343 shares of the real estate investment trust's stock worth $11,399,000 after purchasing an additional 6,986 shares in the last quarter. Exencial Wealth Advisors LLC grew its holdings in shares of American Tower by 3.2% during the second quarter. Exencial Wealth Advisors LLC now owns 6,823 shares of the real estate investment trust's stock worth $1,508,000 after purchasing an additional 214 shares in the last quarter. Finally, Brookstone Capital Management grew its holdings in shares of American Tower by 3.3% during the second quarter. Brookstone Capital Management now owns 7,608 shares of the real estate investment trust's stock worth $1,681,000 after purchasing an additional 245 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Down 0.3%

AMT opened at $190.52 on Thursday. The business has a 50 day simple moving average of $195.87 and a two-hundred day simple moving average of $209.26. The firm has a market capitalization of $89.21 billion, a price-to-earnings ratio of 69.28, a PEG ratio of 1.16 and a beta of 0.86. 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 one year low of $172.51 and a one year high of $234.33.

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

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. American Tower's dividend payout ratio is 247.27%.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the company'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 sale, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Wall Street Zen raised American Tower from a "sell" rating to a "hold" rating in a research note on Sunday, October 12th. Finally, Morgan Stanley lowered their target price on American Tower from $270.00 to $235.00 and set an "overweight" rating for the company in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $236.75.

About American Tower

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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