Oak Hill Wealth Advisors LLC Increases Stock Position in American Tower Corporation $AMT

Key Points

• Oak Hill Wealth Advisors LLC increased its stake in American Tower Corporation by 188.5% in the second quarter, now holding 3,826 shares valued at $844,000.
• American Tower's quarterly earnings per share (EPS) were reported at $2.60, slightly beating analysts' estimates, despite experiencing a 9.4% year-over-year decline in revenue.
• The company recently announced a quarterly dividend of $1.70 per share, translating to an annualized yield of 3.6%, with a dividend payout ratio of 247.27%.

Oak Hill Wealth Advisors LLC raised its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 188.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,826 shares of the real estate investment trust's stock after buying an additional 2,500 shares during the period. Oak Hill Wealth Advisors LLC's holdings in American Tower were worth $844,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Focus Financial Network Inc. grew its position in shares of American Tower by 9.1% during the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust's stock valued at $451,000 after acquiring an additional 170 shares during the period. Resolution Capital Ltd bought a new stake in shares of American Tower during the 1st quarter valued at $72,706,000. Golden State Wealth Management LLC boosted its holdings in American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock worth $80,000 after buying an additional 69 shares during the period. Shum Financial Group Inc. boosted its holdings in American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust's stock worth $913,000 after buying an additional 141 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its holdings in American Tower by 126.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock worth $21,215,000 after buying an additional 54,360 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

NYSE AMT opened at $190.10 on Friday. 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 firm's 50 day moving average price is $201.53 and its 200-day moving average price is $211.76. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a market cap of $89.01 billion, a PE ratio of 69.13, a P/E/G ratio of 1.18 and a beta of 0.86.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company's quarterly revenue was down 9.4% on a year-over-year basis. During the same period last year, the firm earned $2.79 earnings per share. 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 Dividend Announcement

The company 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 annualized dividend and a yield of 3.6%. The ex-dividend date 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 completion of the sale, the chief executive officer directly owned 23,425 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AMT shares. 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 report on Wednesday, July 30th. BMO Capital Markets restated an "outperform" rating and set a $245.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. UBS Group upped their target price on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Barclays increased their price objective on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Two 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corporation (NYSE:AMT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.