American Tower Corporation $AMT Shares Purchased by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC increased its position in shares of American Tower Corporation (NYSE:AMT) by 15.5% during the second quarter, Holdings Channel.com reports. The fund owned 4,086 shares of the real estate investment trust’s stock after acquiring an additional 548 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in American Tower were worth $903,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in 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 worth $13,667,344,000 after acquiring an additional 434,118 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in 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 worth $1,772,144,000 after acquiring an additional 2,309,627 shares during the period. Deutsche Bank AG increased its stake in American Tower by 4.0% in the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock worth $1,606,621,000 after purchasing an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in American Tower by 1.4% in the 1st 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 purchasing an additional 88,120 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in American Tower by 3.7% in the 1st 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 purchasing an additional 220,565 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. BMO Capital Markets dropped their price target on American Tower from $220.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday. Morgan Stanley dropped their price target on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research note on Wednesday, October 8th. Citigroup reissued a “market outperform” rating on shares of American Tower in a research note on Wednesday. Finally, Argus set a $210.00 target price on shares of American Tower in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $230.88.

American Tower Trading Up 0.3%

NYSE:AMT opened at $179.60 on Friday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The stock’s 50-day moving average is $193.35 and its two-hundred day moving average is $208.32. The stock has a market cap of $84.10 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the business posted $2.52 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities research analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s payout ratio is 247.27%.

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.