Valeo Financial Advisors LLC Has $60.94 Million Stock Position in American Tower Corporation $AMT

Key Points

• Valeo Financial Advisors LLC significantly increased its stake in American Tower Corporation by 2,866.1% during the second quarter, owning approximately $60.94 million worth of shares after acquiring an additional 266,436 shares.
• American Tower reported a Q2 EPS of $2.60, slightly beating analysts' expectations, but its revenue declined 9.4% year-over-year, totaling $2.63 billion.
• The company announced a quarterly dividend of $1.70 per share, leading to an annualized dividend yield of 3.6%, although the dividend payout ratio is notably high at 247.27%.

Valeo Financial Advisors LLC lifted its position in American Tower Corporation (NYSE:AMT - Free Report) by 2,866.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,732 shares of the real estate investment trust's stock after buying an additional 266,436 shares during the quarter. Valeo Financial Advisors LLC owned about 0.06% of American Tower worth $60,942,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Focus Financial Network Inc. increased its stake in shares of American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust's stock worth $451,000 after purchasing an additional 170 shares during the period. Resolution Capital Ltd acquired a new stake in American Tower during the first quarter worth about $72,706,000. Golden State Wealth Management LLC increased its stake in American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust's stock valued at $80,000 after acquiring an additional 69 shares during the last quarter. Shum Financial Group Inc. raised its holdings in shares of American Tower by 3.5% during 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 in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in American Tower by 126.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust's stock worth $21,215,000 after acquiring an additional 54,360 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

AMT stock opened at $190.10 on Monday. The firm has a 50-day moving average of $201.53 and a 200 day moving average of $211.73. The company has a market cap of $89.01 billion, a P/E ratio of 69.13, a PEG ratio of 1.17 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 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 analysts' expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.6%. American Tower's dividend payout ratio (DPR) is 247.27%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMT. Barclays lifted their target price 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. The Goldman Sachs Group reissued a "buy" rating on shares of American Tower in a research note on Tuesday, July 29th. 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. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of American Tower in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $242.07.

Insider Buying and Selling

In other news, CEO Juan Font sold 720 shares of the business'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 transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares of the company's stock, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company's stock.

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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