Moody Lynn & Lieberson LLC Raises Stock Position in American Tower Corporation $AMT

Key Points

• Moody Lynn & Lieberson LLC increased its stake in American Tower Corporation by 148.7%, acquiring an additional 9,061 shares in the second quarter, bringing their total holdings to 15,155 shares valued at approximately $3.35 million.
• CEO Juan Font sold 720 shares of American Tower stock at an average price of $208.33, resulting in a total sale of about $150,000, which decreased his ownership by 2.98%.
• American Tower reported $2.60 EPS for the quarter, exceeding expectations of $2.59, and has declared a quarterly dividend of $1.70, reflecting an annualized yield of 3.5%.

Moody Lynn & Lieberson LLC boosted its position in shares of American Tower Corporation (NYSE:AMT - Free Report) by 148.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,155 shares of the real estate investment trust's stock after acquiring an additional 9,061 shares during the period. Moody Lynn & Lieberson LLC's holdings in American Tower were worth $3,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. North Capital Inc. purchased a new stake in American Tower in the first quarter valued at about $25,000. Hopwood Financial Services Inc. increased its holdings 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 acquiring 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 valued at approximately $31,000. City Holding Co. purchased a new position in shares of American Tower in the first quarter worth $39,000. Finally, Saudi Central Bank acquired a new stake in shares of American Tower during the first quarter worth $40,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the firm'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 directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research reports. Raymond James Financial set a $250.00 price target on American Tower and gave the stock a "strong-buy" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. UBS Group increased their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada raised their price target on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a report 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 given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $244.73.

American Tower Price Performance

Shares of NYSE AMT opened at $194.40 on Monday. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $91.03 billion, a price-to-earnings ratio of 70.69, a PEG ratio of 1.20 and a beta of 0.86. The firm's 50 day simple moving average is $205.32 and its 200-day simple moving average is $212.47. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.47.

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

American Tower Announces Dividend

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

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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