1858 Wealth Management LLC Increases Stake in American Tower Corporation $AMT

1858 Wealth Management LLC boosted its stake in shares of American Tower Corporation (NYSE:AMT) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,407 shares of the real estate investment trust’s stock after acquiring an additional 103 shares during the quarter. 1858 Wealth Management LLC’s holdings in American Tower were worth $532,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMT. Brighton Jones LLC grew 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 valued at $727,000 after purchasing an additional 2,104 shares during the period. Farther Finance Advisors LLC grew its holdings in American Tower by 43.2% in the first quarter. Farther Finance Advisors LLC now owns 3,233 shares of the real estate investment trust’s stock valued at $710,000 after purchasing an additional 975 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in American Tower by 5.1% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,932 shares of the real estate investment trust’s stock valued at $638,000 after purchasing an additional 143 shares during the period. GAMMA Investing LLC grew its holdings in American Tower by 9.0% in the first quarter. GAMMA Investing LLC now owns 7,821 shares of the real estate investment trust’s stock valued at $1,702,000 after purchasing an additional 648 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in American Tower by 1.9% in the first quarter. Assenagon Asset Management S.A. now owns 17,433 shares of the real estate investment trust’s stock valued at $3,793,000 after purchasing an additional 326 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of American Tower stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction 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 trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $186.60 on Friday. American Tower Corporation has a one year low of $172.51 and a one year high of $234.33. The company has a market cap of $87.38 billion, a price-to-earnings ratio of 67.85, a PEG ratio of 1.13 and a beta of 0.86. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The business’s 50 day moving average price is $198.75 and its 200 day moving average price is $210.82.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the business posted $2.79 earnings per share. The firm’s 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. On average, research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors 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 dividend on an annualized basis and a yield of 3.6%. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

Analysts Set New Price Targets

Several analysts have commented on AMT shares. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a report on Wednesday. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. Barclays lifted their price target 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. lifted their price target on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company lowered their price target on 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 research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $242.07.

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.