LVW Advisors LLC Boosts Stake in American Tower Corporation $AMT

Key Points

• LVW Advisors LLC has increased its stake in American Tower Corporation by 24.9%, now owning 7,219 shares valued at approximately $1.6 million.
• American Tower's recent earnings report showed a quarterly revenue of $2.63 billion, exceeding analysts' expectations, but reflecting a 9.4% decline year-over-year.
• The company announced a quarterly dividend of $1.70 per share, indicating a 3.5% yield, with a payout ratio of 247.27%.

LVW Advisors LLC increased its stake in American Tower Corporation (NYSE:AMT - Free Report) by 24.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,219 shares of the real estate investment trust's stock after purchasing an additional 1,437 shares during the quarter. LVW Advisors LLC's holdings in American Tower were worth $1,596,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Novem Group raised its position in shares of American Tower by 3.8% during the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust's stock worth $291,000 after purchasing an additional 48 shares during the last quarter. Elmwood Wealth Management Inc. grew its holdings in American Tower by 2.5% in the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust's stock valued at $454,000 after buying an additional 50 shares during the period. 4J Wealth Management LLC increased its position in American Tower by 4.0% during the first quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust's stock worth $283,000 after purchasing an additional 50 shares during the last quarter. TCTC Holdings LLC raised its position in shares of American Tower by 15.8% in the 1st quarter. TCTC Holdings LLC now owns 374 shares of the real estate investment trust's stock worth $81,000 after buying an additional 51 shares during the period. Finally, Coyle Financial Counsel LLC lifted its stake in shares of American Tower by 2.4% in the 1st quarter. Coyle Financial Counsel LLC now owns 2,238 shares of the real estate investment trust's stock valued at $487,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. UBS Group increased their target price on American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada raised their target price on American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. 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 report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Two equities research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $244.73.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were 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 approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company's stock.

American Tower Trading Up 0.4%

Shares of AMT opened at $194.40 on Friday. American Tower Corporation has a one year low of $172.51 and a one year high of $234.47. The stock has a 50-day moving average price of $205.32 and a 200 day moving average price of $212.40. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $91.03 billion, a P/E ratio of 70.69, a P/E/G ratio of 1.20 and a beta of 0.86.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) 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 analyst estimates of $2.58 billion. During the same period in the prior year, the company posted $2.79 EPS. American Tower'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. Sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal 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 issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower's dividend payout ratio (DPR) is currently 247.27%.

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.

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