American Tower Corporation $AMT Position Boosted by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in American Tower Corporation by 5.1%, owning a total of 290,752 shares valued at $64.47 million.
• Analysts have varied opinions on AMT, with HSBC downgrading it to a "hold" and setting a price target of $235, while JPMorgan increased its target from $250 to $255.
• American Tower recently declared a quarterly dividend of $1.70, reflecting a significant annualized yield of 3.5%, with a high payout ratio of 247.27%.

Wealth Enhancement Advisory Services LLC grew its stake in American Tower Corporation (NYSE:AMT - Free Report) by 5.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 290,752 shares of the real estate investment trust's stock after acquiring an additional 14,219 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.06% of American Tower worth $64,474,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of 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 worth $727,000 after buying an additional 2,104 shares during the period. Two Sigma Investments LP raised its stake in shares of American Tower by 480.1% during the fourth quarter. Two Sigma Investments LP now owns 92,636 shares of the real estate investment trust's stock valued at $16,990,000 after purchasing an additional 76,668 shares during the period. Two Sigma Advisers LP acquired a new position in shares of American Tower during the fourth quarter valued at $2,990,000. Vident Advisory LLC increased its holdings in shares of American Tower by 8.1% in the 4th quarter. Vident Advisory LLC now owns 4,611 shares of the real estate investment trust's stock valued at $846,000 after purchasing an additional 347 shares during the period. Finally, Woodline Partners LP bought a new stake in shares of American Tower in the fourth quarter valued at approximately $5,219,000. Institutional investors own 92.69% of the company's stock.

Insider Buying and Selling 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMT has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their target price on American Tower from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Hsbc Global Res cut American Tower from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada increased their target price on shares of American Tower from $250.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. HSBC cut shares of American Tower from a "buy" rating to a "hold" rating and set a $235.00 price target for the company. in a research report on Wednesday, July 30th. Finally, UBS Group boosted their target price on shares of American Tower from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, American Tower presently has a consensus rating of "Moderate Buy" and an average target price of $244.73.

American Tower Trading Up 0.1%

Shares of NYSE:AMT traded up $0.26 during midday trading on Friday, reaching $193.29. The company had a trading volume of 5,329,524 shares, compared to its average volume of 2,945,268. 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 company has a fifty day simple moving average of $208.18 and a two-hundred day simple moving average of $213.00. The firm has a market cap of $90.51 billion, a price-to-earnings ratio of 70.29, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $238.34.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The firm's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

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

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.