Greenwich Wealth Management LLC Has $883,000 Stock Holdings in American Tower Corporation $AMT

Greenwich Wealth Management LLC grew its holdings in American Tower Corporation (NYSE:AMT) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,997 shares of the real estate investment trust’s stock after purchasing an additional 360 shares during the period. Greenwich Wealth Management LLC’s holdings in American Tower were worth $883,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the second quarter valued at approximately $31,000. VSM Wealth Advisory LLC increased its position in shares of American Tower by 136.4% during the second quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 90 shares during the period. Rosenberg Matthew Hamilton raised its position in shares of American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Saudi Central Bank bought a new stake in American Tower in the first quarter worth approximately $40,000. Finally, Winnow Wealth LLC acquired a new position in shares of American Tower during the 2nd quarter valued at $44,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMT shares. HSBC lowered their target price on American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Jefferies Financial Group lowered their price target on shares of American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. TD Cowen decreased their price target on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a research note on Tuesday. Two investment 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 company. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $228.44.

American Tower Stock Up 0.4%

NYSE:AMT opened at $181.95 on Friday. 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 price is $185.59 and its 200-day moving average price is $202.73. The company has a market capitalization of $85.18 billion, a PE ratio of 29.07, a P/E/G ratio of 1.08 and a beta of 0.85. 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 (NYSE:AMT) last issued its quarterly 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 firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the company earned $2.52 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Tuesday, September 30th were paid a dividend of $1.70 per share. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. American Tower’s payout ratio is 108.63%.

Insider Activity

In related news, Director Eugene F. Reilly bought 5,554 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the transaction, the director owned 5,689 shares in the company, valued at $1,018,274.11. The trade was a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

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.