Heartland Bank & Trust Co Makes New $619,000 Investment in American Tower Corporation $AMT

Key Points

• Heartland Bank & Trust Co has made a new investment of $619,000 in American Tower Corporation, purchasing 2,801 shares, according to their recent SEC filing.
• A significant percentage of American Tower's stock, 92.69%, is owned by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Analyst ratings for American Tower include a mix of opinions, with two analysts giving it a Strong Buy, while a recent downgrade by HSBC lowered its rating from "buy" to "hold" with a target price of $235.

Heartland Bank & Trust Co purchased a new position in shares of American Tower Corporation (NYSE:AMT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,801 shares of the real estate investment trust's stock, valued at approximately $619,000.

Other large investors also recently added to or reduced their stakes in the company. Focus Financial Network Inc. lifted its stake in American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust's stock worth $451,000 after purchasing an additional 170 shares in the last quarter. Resolution Capital Ltd purchased a new stake in shares of American Tower during the first quarter worth $72,706,000. Golden State Wealth Management LLC increased its position in shares of American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after acquiring an additional 69 shares during the period. Shum Financial Group Inc. increased its position in shares of American Tower by 3.5% during the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after acquiring an additional 141 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its position in shares of American Tower by 126.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock worth $21,215,000 after acquiring an additional 54,360 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMT shares. HSBC lowered American Tower from a "buy" rating to a "hold" rating and set a $235.00 price objective on the stock. in a research report on Wednesday, July 30th. Wall Street Zen raised American Tower from a "sell" rating to a "hold" rating in a research report on Sunday. Raymond James Financial set a $250.00 target price on American Tower and gave the company a "strong-buy" rating in a report on Wednesday, July 30th. Barclays increased their target price on American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Wells Fargo & Company dropped their target price on American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $241.06.

Insider Activity

In other American Tower news, CEO Juan Font sold 720 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

American Tower Stock Performance

Shares of AMT stock opened at $183.03 on Tuesday. The stock's 50-day moving average is $198.16 and its two-hundred day moving average is $210.57. The firm has a market cap of $85.70 billion, a price-to-earnings ratio of 66.56, a PEG ratio of 1.13 and a beta of 0.86. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. 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 quarterly earnings data 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. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business's quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. American Tower's dividend payout ratio (DPR) is presently 247.27%.

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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