Stack Financial Management Inc Takes Position in American Tower Corporation $AMT

Key Points

• Stack Financial Management Inc has acquired a new stake in American Tower Corporation, purchasing 58,910 shares valued at approximately $13 million during the second quarter.
• American Tower's recent earnings report indicates a net margin of 12.60% with a revenue of $2.63 billion, slightly above analyst expectations, although overall revenue has decreased by 9.4% year-over-year.
• The company declared a quarterly dividend of $1.70, with a payout ratio of 247.27%, reflecting a stable annualized dividend yield of 3.6% for its investors.

Stack Financial Management Inc acquired a new stake in American Tower Corporation (NYSE:AMT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 58,910 shares of the real estate investment trust's stock, valued at approximately $13,020,000.

Several other large investors also recently bought and sold shares of the stock. North Capital Inc. acquired a new stake in shares of American Tower during the first quarter worth $25,000. Hopwood Financial Services Inc. increased its position in shares of American Tower by 100.0% in the 1st 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 during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in American Tower in the 1st quarter worth $31,000. Saudi Central Bank acquired a new stake in American Tower during the 1st quarter worth about $40,000. Finally, Accredited Wealth Management LLC grew its stake in American Tower by 180.0% during the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Price Performance

NYSE:AMT opened at $186.60 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 company has a 50 day moving average price of $198.75 and a 200-day moving average price of $210.80. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The firm has a market cap of $87.38 billion, a price-to-earnings ratio of 67.85, a price-to-earnings-growth ratio of 1.13 and a beta of 0.86.

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. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the business earned $2.79 earnings per share. The firm's 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. Equities research analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

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 paid a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower's payout ratio is currently 247.27%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a "strong-buy" rating in a report on Wednesday, July 30th. Hsbc Global Res lowered shares of American Tower from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Barclays upped their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Wall Street Zen raised shares of American Tower from a "sell" rating to a "hold" rating in a report on Sunday. Finally, HSBC downgraded shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price for the company. in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, American Tower currently has an average rating of "Moderate Buy" and a consensus price target of $242.07.

Insiders Place Their Bets

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company's stock.

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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