Diversified Enterprises LLC Has $454,000 Stock Position in American Tower Corporation $AMT

Diversified Enterprises LLC reduced its holdings in shares of American Tower Corporation (NYSE:AMT) by 20.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,053 shares of the real estate investment trust’s stock after selling 517 shares during the quarter. Diversified Enterprises LLC’s holdings in American Tower were worth $454,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AMT. North Capital Inc. bought a new stake in American Tower during the 1st quarter valued at about $25,000. Hopwood Financial Services Inc. grew its position in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower in the first quarter valued at $31,000. City Holding Co. purchased a new stake in American Tower during the 1st quarter worth about $39,000. Finally, Saudi Central Bank purchased a new stake in shares of American Tower during the 1st quarter worth about $40,000. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMT. HSBC lowered 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. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Barclays boosted their target price on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. 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 report on Wednesday, July 30th. Finally, Royal Bank Of Canada boosted their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued 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 $244.73.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by corporate insiders.

American Tower Stock Performance

Shares of AMT stock opened at $194.40 on Friday. The firm has a market cap of $91.03 billion, a PE ratio of 70.69, a P/E/G ratio of 1.20 and a beta of 0.86. 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 Corporation has a 12 month low of $172.51 and a 12 month high of $234.47. The company’s fifty day simple moving average is $205.32 and its 200-day simple moving average is $212.44.

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

American Tower Announces Dividend

The firm also recently announced 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 3.5%. American Tower’s payout ratio is presently 247.27%.

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.