Vigilare Wealth Management Buys 1,925 Shares of American Tower Corporation $AMT

Key Points

• Vigilare Wealth Management increased its stake in American Tower Corporation by 114.4% in the second quarter, owning a total of 3,607 shares now worth approximately $797,000.
• American Tower's recent earnings report showed an EPS of $2.60 for the quarter, slightly exceeding estimates, and a 9.4% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $1.70, translating to an annualized yield of 3.5%, with a significant dividend payout ratio of 247.27%.

Vigilare Wealth Management raised its stake in American Tower Corporation (NYSE:AMT - Free Report) by 114.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,607 shares of the real estate investment trust's stock after purchasing an additional 1,925 shares during the period. Vigilare Wealth Management's holdings in American Tower were worth $797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC bought a new stake in American Tower in the 1st quarter worth about $991,525,000. Price T Rowe Associates Inc. MD grew its position in American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust's stock worth $1,772,144,000 after purchasing an additional 2,309,627 shares in the last quarter. Bessemer Group Inc. boosted its stake in American Tower by 272.0% in the first quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust's stock valued at $247,390,000 after acquiring an additional 831,247 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in American Tower in the first quarter valued at about $162,127,000. Finally, Amundi boosted its stake in American Tower by 35.5% in the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust's stock valued at $645,694,000 after acquiring an additional 743,617 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

NYSE AMT opened at $191.76 on Wednesday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.47. 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 stock has a market capitalization of $89.79 billion, a PE ratio of 69.73, a P/E/G ratio of 1.20 and a beta of 0.86. The company's 50 day simple moving average is $203.87 and its two-hundred day simple moving average is $212.22.

American Tower (NYSE:AMT - Get Free Report) last posted its earnings results 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. The business 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% compared to the same quarter last year. During the same period in the prior year, the company posted $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. American Tower's dividend payout ratio is presently 247.27%.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the stock in a transaction 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 owned 23,425 shares of the company's stock, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on AMT shares. Barclays boosted their target price on shares of American Tower from $246.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Wells Fargo & Company dropped their target price on shares of American Tower from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. UBS Group upped their price target on shares of American Tower from $250.00 to $260.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the company a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of American Tower from $250.00 to $255.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $244.73.

American Tower 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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