Revisor Wealth Management LLC Invests $556,000 in American Tower Corporation $AMT

Key Points

• Revisor Wealth Management LLC invested approximately $556,000 in American Tower Corporation, acquiring 2,517 shares during the second quarter.
• American Tower recently declared a quarterly dividend of $1.70 per share, which will be paid on October 20th, reflecting a 3.5% dividend yield.
• UBS Group and Royal Bank of Canada both raised their price targets to $260.00 for AMT, recommending a "buy" and "outperform" rating respectively, indicating strong analyst support for the stock.

Revisor Wealth Management LLC bought a new position in American Tower Corporation (NYSE:AMT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,517 shares of the real estate investment trust's stock, valued at approximately $556,000.

A number of other hedge funds also recently bought and sold shares of AMT. Brighton Jones LLC raised its stake in American Tower by 113.0% during the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust's stock valued at $727,000 after purchasing an additional 2,104 shares in the last quarter. Two Sigma Advisers LP bought a new position in American Tower during the fourth quarter valued at $2,990,000. Vise Technologies Inc. increased its position in American Tower by 20.7% during the fourth quarter. Vise Technologies Inc. now owns 3,783 shares of the real estate investment trust's stock valued at $694,000 after acquiring an additional 649 shares during the last quarter. GTS Securities LLC increased its position in American Tower by 177.4% during the fourth quarter. GTS Securities LLC now owns 2,325 shares of the real estate investment trust's stock valued at $426,000 after acquiring an additional 5,329 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in American Tower by 7.2% during the fourth quarter. Toronto Dominion Bank now owns 268,712 shares of the real estate investment trust's stock valued at $49,284,000 after acquiring an additional 18,141 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the topic of a number of analyst reports. UBS Group boosted their price objective 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. Hsbc Global Res cut shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada boosted their price objective on shares of American Tower from $250.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. Finally, Barclays upped their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, American Tower presently has a consensus rating of "Moderate Buy" and an average price target of $244.73.

Insider Activity at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

American Tower Stock Performance

AMT stock opened at $193.44 on Tuesday. The firm has a market cap of $90.58 billion, a price-to-earnings ratio of 70.34, a PEG ratio of 1.19 and a beta of 0.86. The firm has a 50-day simple moving average of $207.62 and a two-hundred day simple moving average of $212.91. American Tower Corporation has a one year low of $172.51 and a one year high of $238.34. 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 released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates 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 in the prior year, the firm posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower's dividend payout ratio 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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