GAMMA Investing LLC Acquires 2,758 Shares of American Tower Corporation $AMT

Key Points

• GAMMA Investing LLC increased its stake in American Tower Corporation by 35.3%, acquiring 2,758 additional shares, bringing its total holdings to 10,579 shares valued at approximately $2.34 million.
• American Tower's latest quarterly earnings surpassed expectations with an EPS of $2.60, beating the consensus estimate by $0.01, although revenue decreased by 9.4% year-over-year.
• The company announced a quarterly dividend of $1.70 per share, with a dividend yield of 3.5%, despite a high payout ratio of 247.27%.

GAMMA Investing LLC grew its stake in American Tower Corporation (NYSE:AMT - Free Report) by 35.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,579 shares of the real estate investment trust's stock after purchasing an additional 2,758 shares during the quarter. GAMMA Investing LLC's holdings in American Tower were worth $2,338,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMT. North Capital Inc. bought a new stake in shares of American Tower in the 1st quarter valued at $25,000. Hopwood Financial Services Inc. raised its holdings in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of American Tower in the 1st quarter worth about $31,000. Lowe Wealth Advisors LLC lifted its position in shares of American Tower by 218.0% during the 1st quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 109 shares in the last quarter. Finally, City Holding Co. purchased a new stake in shares of American Tower during the 1st quarter worth approximately $39,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Up 0.1%

AMT traded up $0.13 during trading on Monday, reaching $193.44. 3,411,004 shares of the stock traded hands, compared to its average volume of 3,094,599. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $238.34. The stock's 50-day simple moving average is $207.62 and its two-hundred day simple moving average is $212.91. The stock has a market cap of $90.58 billion, a price-to-earnings ratio of 70.34, a price-to-earnings-growth ratio of 1.19 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 (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating 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 company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the business earned $2.79 earnings per share. The company's quarterly 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. As a group, equities research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

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

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the transaction, the chief executive officer directly owned 23,425 shares of the company's stock, valued at $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 available through this link. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. UBS Group boosted their price objective on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Barclays upped their price objective on American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. 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. Finally, Hsbc Global Res lowered American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Two 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 company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $244.73.

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.