Acorn Financial Advisory Services Inc. ADV Has $1.47 Million Stock Position in American Tower Corporation $AMT

Acorn Financial Advisory Services Inc. ADV lowered its stake in American Tower Corporation (NYSE:AMT) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,627 shares of the real estate investment trust’s stock after selling 221 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in American Tower were worth $1,465,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of American Tower by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock valued at $13,667,344,000 after acquiring an additional 434,118 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of American Tower by 39.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after acquiring an additional 2,309,627 shares during the last quarter. Deutsche Bank AG raised its stake in shares of American Tower by 4.0% during the first quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock valued at $1,606,621,000 after acquiring an additional 285,195 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in American Tower by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock worth $1,421,965,000 after buying an additional 88,120 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in American Tower by 3.7% during the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock worth $1,335,407,000 after buying an additional 220,565 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, CEO Juan Font sold 720 shares of American Tower 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 transaction, the chief executive officer directly owned 23,425 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AMT has been the subject of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $245.00 target price (down previously from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Jefferies Financial Group lowered their target price on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday. Wells Fargo & Company lowered their target price on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Finally, Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.06.

American Tower Stock Down 2.0%

Shares of NYSE AMT opened at $183.03 on Tuesday. The stock has a market capitalization of $85.70 billion, a P/E ratio of 66.56, a P/E/G ratio of 1.13 and a beta of 0.86. The company has a 50-day moving average price of $198.16 and a 200-day moving average price of $210.57. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. 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 (NYSE:AMT) last issued 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. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business’s revenue was down 9.4% on a year-over-year basis. During the same period last year, the company earned $2.79 earnings per share. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities research analysts forecast that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 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.