Sunburst Financial Group LLC Has $453,000 Stock Position in American Tower Corporation $AMT

Sunburst Financial Group LLC increased its position in shares of American Tower Corporation (NYSE:AMT) by 22.6% in the second quarter, HoldingsChannel reports. The firm owned 2,048 shares of the real estate investment trust’s stock after purchasing an additional 378 shares during the period. Sunburst Financial Group LLC’s holdings in American Tower were worth $453,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AMT. Hopwood Financial Services Inc. increased its position in shares of American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in shares of American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Saudi Central Bank acquired a new stake in shares of American Tower during the 1st quarter worth about $40,000. Accredited Wealth Management LLC increased its position in shares of American Tower by 180.0% during 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. Finally, Park Square Financial Group LLC increased its position in shares of American Tower by 512.8% during the 1st quarter. Park Square Financial Group LLC now owns 239 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. BMO Capital Markets decreased their price objective on shares of American Tower from $220.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. TD Cowen decreased their price objective on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. The Goldman Sachs Group decreased their price objective on shares of American Tower from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Wells Fargo & Company decreased their price objective on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $231.00 price objective (down previously from $250.00) on shares of American Tower in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $231.11.

American Tower Stock Down 1.1%

Shares of NYSE AMT opened at $177.00 on Tuesday. The firm has a market capitalization of $82.88 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The firm’s 50-day moving average is $192.02 and its 200-day moving average is $207.59.

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

American Tower Dividend Announcement

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

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.