MSH Capital Advisors LLC Grows Stock Position in American Tower Corporation $AMT

Key Points

• MSH Capital Advisors LLC increased its stake in American Tower Corporation by 17.7% in the second quarter, now owning 12,393 shares valued at approximately $2.74 million.
• American Tower reported a quarterly earnings per share (EPS) of $2.60, surpassing estimates, despite a 9.4% decline in revenue year-over-year.
• The company declared a quarterly dividend of $1.70 per share, reflecting a 3.7% yield and an annual payout ratio of 247.27%.

MSH Capital Advisors LLC raised its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 17.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 12,393 shares of the real estate investment trust's stock after buying an additional 1,868 shares during the period. MSH Capital Advisors LLC's holdings in American Tower were worth $2,739,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Lokken Investment Group LLC raised its stake in shares of American Tower by 7.2% during the 2nd quarter. Lokken Investment Group LLC now owns 1,052 shares of the real estate investment trust's stock valued at $233,000 after buying an additional 71 shares during the last quarter. Maryland State Retirement & Pension System raised its stake in shares of American Tower by 6.3% during the 2nd quarter. Maryland State Retirement & Pension System now owns 444,614 shares of the real estate investment trust's stock valued at $98,269,000 after buying an additional 26,490 shares during the last quarter. NBT Bank N A NY grew its position in shares of American Tower by 10.9% during the 2nd quarter. NBT Bank N A NY now owns 2,273 shares of the real estate investment trust's stock valued at $502,000 after acquiring an additional 223 shares during the period. DMC Group LLC grew its position in shares of American Tower by 9.6% during the 2nd quarter. DMC Group LLC now owns 2,459 shares of the real estate investment trust's stock valued at $543,000 after acquiring an additional 216 shares during the period. Finally, Shell Asset Management Co. grew its position in shares of American Tower by 35.2% during the 2nd quarter. Shell Asset Management Co. now owns 18,597 shares of the real estate investment trust's stock valued at $4,110,000 after acquiring an additional 4,838 shares during the period. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Trading Down 0.8%

AMT stock opened at $185.46 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The stock has a market cap of $86.84 billion, a price-to-earnings ratio of 67.44, a PEG ratio of 1.15 and a beta of 0.86. The business's 50-day moving average is $199.72 and its 200 day moving average is $211.16.

American Tower (NYSE:AMT - Get Free Report) last posted 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. 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 analysts' expectations of $2.58 billion. During the same period in the previous year, the firm posted $2.79 EPS. American Tower's 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. On average, sell-side analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

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

Insiders Place Their Bets

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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Raymond James Financial set a $250.00 target price on American Tower and gave the company a "strong-buy" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a "sector perform" rating in a research report on Wednesday, October 1st. HSBC cut American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price on the stock. in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. 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 research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $242.07.

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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