Advisory Services Network LLC Increases Stock Holdings in American Tower Corporation $AMT

Advisory Services Network LLC raised its stake in shares of American Tower Corporation (NYSE:AMT) by 23.2% during the second quarter, Holdings Channel reports. The firm owned 34,429 shares of the real estate investment trust’s stock after buying an additional 6,489 shares during the quarter. Advisory Services Network LLC’s holdings in American Tower were worth $7,175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in American Tower by 113.0% in 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. Raymond James Financial Inc. raised its position in shares of American Tower by 4.1% in the 1st quarter. Raymond James Financial Inc. now owns 1,097,030 shares of the real estate investment trust’s stock worth $238,713,000 after acquiring an additional 43,398 shares in the last quarter. Corient IA LLC purchased a new position in shares of American Tower in the 1st quarter valued at approximately $218,000. Brooklyn Investment Group boosted its position in shares of American Tower by 19.2% during the first quarter. Brooklyn Investment Group now owns 4,746 shares of the real estate investment trust’s stock valued at $1,033,000 after purchasing an additional 764 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of American Tower by 2.1% during the first quarter. Northern Trust Corp now owns 5,643,399 shares of the real estate investment trust’s stock valued at $1,228,004,000 after purchasing an additional 118,219 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Eugene F. Reilly purchased 5,554 shares of the stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This represents a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the sale, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.18% of the stock is currently owned by insiders.

American Tower Stock Performance

AMT stock opened at $180.95 on Monday. The stock’s 50 day simple moving average is $182.83 and its 200 day simple moving average is $200.34. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The stock has a market capitalization of $84.71 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 0.72 and a beta of 0.91.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The firm had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the business earned $2.52 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s payout ratio is 108.63%.

Analyst Ratings Changes

Several equities analysts have commented on AMT shares. The Goldman Sachs Group lowered their price objective on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Wells Fargo & Company lowered their price target on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. HSBC cut their price objective on shares of American Tower from $235.00 to $205.00 in a report on Wednesday, October 29th. Argus set a $210.00 target price on shares of American Tower in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of American Tower in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $228.00.

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.