BLB&B Advisors LLC Has $253,000 Stake in American Tower Corporation $AMT

BLB&B Advisors LLC trimmed its position in American Tower Corporation (NYSE:AMT) by 5.2% in the second quarter, HoldingsChannel.com reports. The firm owned 1,145 shares of the real estate investment trust’s stock after selling 63 shares during the period. BLB&B Advisors LLC’s holdings in American Tower were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. North Capital Inc. acquired a new position in shares of American Tower in the first quarter valued at $25,000. Hopwood Financial Services Inc. raised its stake in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Rosenberg Matthew Hamilton raised its stake in shares of American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Saudi Central Bank acquired a new position in American Tower during the first quarter worth $40,000. Finally, Accredited Wealth Management LLC raised its stake in American Tower by 180.0% during the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 135 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. BMO Capital Markets dropped their price objective on American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays increased their price objective on American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Jefferies Financial Group dropped their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, The Goldman Sachs Group dropped their price objective on American Tower from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $230.88.

American Tower Price Performance

Shares of AMT stock opened at $179.18 on Friday. The stock’s fifty day moving average is $192.70 and its 200-day moving average is $208.05. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. The stock has a market capitalization of $83.90 billion, a PE ratio of 28.62, a PEG ratio of 1.08 and a beta of 0.86. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33.

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

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were issued a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

American Tower Company 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.