FARMERS & MERCHANTS TRUST Co OF LONG BEACH Invests $755,000 in American Tower Corporation $AMT

FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in American Tower Corporation (NYSE:AMT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,418 shares of the real estate investment trust’s stock, valued at approximately $755,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. North Capital Inc. purchased a new position in shares of American Tower during the first quarter worth about $25,000. Hopwood Financial Services Inc. lifted its position in 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 valued at $26,000 after purchasing an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in American Tower in the 1st quarter worth approximately $31,000. City Holding Co. bought a new position in shares of American Tower in the 1st quarter worth $39,000. Finally, Saudi Central Bank bought a new position in shares of American Tower in the 1st quarter worth $40,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMT. Wells Fargo & Company dropped their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on American Tower from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $245.00 price objective (down from $250.00) on shares of American Tower in a report on Wednesday, July 30th. HSBC cut American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a report on Wednesday, July 30th. Finally, UBS Group upped their target price on American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Two research 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 company’s stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $244.73.

American Tower Price Performance

AMT opened at $194.40 on Monday. 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’s 50 day simple moving average is $205.32 and its 200 day simple moving average is $212.47. The firm has a market cap of $91.03 billion, a price-to-earnings ratio of 70.69, a PEG ratio of 1.20 and a beta of 0.86. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.47.

American Tower (NYSE:AMT) last released its quarterly earnings data 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 return on equity of 24.85% and a net margin of 12.60%.The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the firm posted $2.79 earnings per share. The business’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. As a group, analysts predict that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. American Tower’s 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 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 sale, the chief executive officer directly 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 document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Company 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.