DMC Group LLC Has $543,000 Stock Holdings in American Tower Corporation $AMT

DMC Group LLC grew its stake in shares of American Tower Corporation (NYSE:AMT) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,459 shares of the real estate investment trust’s stock after acquiring an additional 216 shares during the period. DMC Group LLC’s holdings in American Tower were worth $543,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AMT. Focus Financial Network Inc. raised its stake in American Tower by 9.1% in the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 170 shares in the last quarter. Resolution Capital Ltd acquired a new stake in shares of American Tower in the first quarter valued at approximately $72,706,000. Golden State Wealth Management LLC raised its position in shares of American Tower by 23.0% in the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 69 shares in the last quarter. Shum Financial Group Inc. raised its position in shares of American Tower by 3.5% in the first quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock valued at $913,000 after buying an additional 141 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its holdings in American Tower by 126.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after acquiring an additional 54,360 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

AMT stock opened at $186.71 on Wednesday. The company has a 50 day simple moving average of $200.19 and a 200 day simple moving average of $211.34. The stock has a market cap of $87.43 billion, a price-to-earnings ratio of 67.89, a P/E/G ratio of 1.15 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business earned $2.79 earnings per share. The company’s revenue for the quarter 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. Research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. American Tower’s dividend payout ratio is currently 247.27%.

Insider Activity

In other news, CEO Juan Font sold 720 shares of the company’s 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on AMT shares. Royal Bank Of Canada set a $220.00 price objective on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Wells Fargo & Company dropped their price target on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Hsbc Global Res cut shares of American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Wall Street Zen downgraded shares of American Tower from a “hold” rating to a “sell” rating in a research report on Saturday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.07.

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.