Exencial Wealth Advisors LLC Increases Stock Position in American Tower Corporation $AMT

Exencial Wealth Advisors LLC increased its holdings in American Tower Corporation (NYSE:AMT) by 3.2% during the second quarter, HoldingsChannel.com reports. The fund owned 6,823 shares of the real estate investment trust’s stock after buying an additional 214 shares during the period. Exencial Wealth Advisors LLC’s holdings in American Tower were worth $1,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Focus Financial Network Inc. raised its holdings in shares of American Tower by 9.1% in the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after buying an additional 170 shares during the last quarter. Resolution Capital Ltd acquired a new position in American Tower in the 1st quarter valued at about $72,706,000. Stack Financial Management Inc purchased a new stake in American Tower during the 2nd quarter valued at approximately $13,020,000. Golden State Wealth Management LLC lifted its position in American Tower by 23.0% during the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 69 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of 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 purchasing an additional 54,360 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $190.56 on Friday. The firm’s fifty day simple moving average is $195.60 and its 200-day simple moving average is $209.11. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The stock has a market cap of $89.23 billion, a PE ratio of 69.30, a price-to-earnings-growth ratio of 1.16 and a beta of 0.86. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33.

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, beating 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 firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the business earned $2.79 earnings per share. The business’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. Analysts expect that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMT shares. Barclays upped their price target on American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. upped their price objective on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating 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. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a “strong-buy” rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada set a $220.00 price objective on shares of American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.75.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the firm’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 directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

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.