American Tower Corporation $AMT Shares Acquired by Camelot Portfolios LLC

Camelot Portfolios LLC boosted its holdings in American Tower Corporation (NYSE:AMT) by 118.4% during the second quarter, Holdings Channel.com reports. The fund owned 4,497 shares of the real estate investment trust’s stock after acquiring an additional 2,438 shares during the period. Camelot Portfolios LLC’s holdings in American Tower were worth $994,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMT. Brighton Jones LLC boosted its stake in shares of American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after purchasing an additional 2,104 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of American Tower by 23,627.3% in the first quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock worth $370,346,000 after acquiring an additional 1,694,784 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of American Tower by 1.6% in the first quarter. Parallel Advisors LLC now owns 21,612 shares of the real estate investment trust’s stock worth $4,703,000 after acquiring an additional 332 shares during the last quarter. BTC Capital Management Inc. boosted its position in shares of American Tower by 4.3% in the first quarter. BTC Capital Management Inc. now owns 3,816 shares of the real estate investment trust’s stock worth $830,000 after acquiring an additional 159 shares during the last quarter. Finally, Somerset Trust Co boosted its position in shares of American Tower by 11.3% in the first quarter. Somerset Trust Co now owns 5,929 shares of the real estate investment trust’s stock worth $1,290,000 after acquiring an additional 603 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 value 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

American Tower Stock Performance

AMT stock opened at $194.40 on Friday. The company has a market capitalization of $91.03 billion, a P/E ratio of 70.69, a PEG ratio of 1.20 and a beta of 0.86. The company has a 50-day simple moving average of $205.32 and a 200 day simple moving average of $212.44. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.47. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company earned $2.79 EPS. American Tower’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. Sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

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 given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio is 247.27%.

Analysts Set New Price Targets

Several research firms recently issued reports on AMT. Barclays raised 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 restated a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Royal Bank Of Canada raised their price target on shares of American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. lifted their price objective 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. Finally, Wells Fargo & Company dropped their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

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.