American Tower Corporation $AMT Position Boosted by XML Financial LLC

XML Financial LLC grew its holdings in shares of American Tower Corporation (NYSE:AMT) by 55.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,388 shares of the real estate investment trust’s stock after purchasing an additional 855 shares during the period. XML Financial LLC’s holdings in American Tower were worth $528,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. North Capital Inc. purchased a new stake in American Tower during the first quarter valued at about $25,000. Hopwood Financial Services Inc. lifted its stake in American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in American Tower during the first quarter valued at about $31,000. City Holding Co. purchased a new stake in American Tower during the first quarter valued at about $39,000. Finally, Saudi Central Bank purchased a new stake in American Tower during the first quarter valued at about $40,000. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

American Tower Price Performance

Shares of AMT opened at $191.76 on Wednesday. The firm has a market cap of $89.79 billion, a PE ratio of 69.73, a PEG ratio of 1.20 and a beta of 0.86. The firm’s 50 day moving average price is $203.87 and its 200 day moving average price is $212.22. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.47.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm earned $2.79 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. As a group, research analysts expect that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is 247.27%.

Analyst Upgrades and Downgrades

A number of analysts have commented on AMT shares. HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a research note on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. BMO Capital Markets reissued an “outperform” rating and issued a $245.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Raymond James Financial set a $250.00 price target on shares of American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Finally, Wells Fargo & Company decreased their price target on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

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.