Lido Advisors LLC Buys 1,746 Shares of American Tower Corporation $AMT

Lido Advisors LLC grew its stake in American Tower Corporation (NYSE:AMT) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,966 shares of the real estate investment trust’s stock after acquiring an additional 1,746 shares during the period. Lido Advisors LLC’s holdings in American Tower were worth $29,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Focus Financial Network Inc. increased its position in shares of American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after acquiring an additional 170 shares in the last quarter. Resolution Capital Ltd acquired a new stake in shares of American Tower in the 1st quarter valued at about $72,706,000. Stack Financial Management Inc bought a new stake in shares of American Tower in the second quarter valued at about $13,020,000. Los Angeles Capital Management LLC lifted its holdings in shares of American Tower by 52.5% in the second quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock valued at $71,094,000 after purchasing an additional 110,671 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of American Tower by 1.0% during the second quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock worth $334,430,000 after buying an additional 15,920 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMT shares. HSBC cut their target price on American Tower from $235.00 to $205.00 in a research note on Wednesday, October 29th. Morgan Stanley cut their price objective on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a research report on Wednesday, October 29th. Barclays cut their price target on shares of American Tower from $251.00 to $203.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Finally, Jefferies Financial Group reduced their price objective on shares of American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $228.44.

American Tower Trading Up 0.4%

Shares of NYSE:AMT opened at $181.95 on Friday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. 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 company has a market capitalization of $85.18 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. The company has a 50-day simple moving average of $185.59 and a 200 day simple moving average of $202.73.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the previous year, the business earned $2.52 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

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

Insider Activity at American Tower

In related news, Director Eugene F. Reilly acquired 5,554 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of the transaction, the director directly owned 5,689 shares of the company’s stock, valued at $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

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.