Resonant Capital Advisors LLC Has $446,000 Stock Position in American Tower Corporation $AMT

Resonant Capital Advisors LLC raised its stake in American Tower Corporation (NYSE:AMT) by 54.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,005 shares of the real estate investment trust’s stock after acquiring an additional 705 shares during the quarter. Resonant Capital Advisors LLC’s holdings in American Tower were worth $446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. North Capital Inc. bought a new position in American Tower in the 1st quarter valued at approximately $25,000. Hopwood Financial Services Inc. increased its holdings in shares of 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 worth $26,000 after buying an additional 60 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of American Tower by 86.0% during the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 80 shares in the last quarter. Saudi Central Bank acquired a new position in American Tower in the 1st quarter worth about $40,000. Finally, Accredited Wealth Management LLC increased its holdings in American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $191.36 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. The business has a 50-day moving average price of $195.30 and a two-hundred day moving average price of $209.07. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The company has a market cap of $89.60 billion, a P/E ratio of 69.58, a PEG ratio of 1.16 and a beta of 0.86.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the firm posted $2.79 earnings per share. The firm’s revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, analysts anticipate that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given 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 dividend payout ratio (DPR) is 247.27%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMT. Jefferies Financial Group lowered their target price on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a report on Monday, October 13th. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Barclays upped their price target on shares of American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. UBS Group upped their price target on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Finally, Citigroup decreased their price objective on American Tower from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $236.75.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the firm’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value 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 trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

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.