American Tower Corporation $AMT Stock Holdings Lifted by Childress Capital Advisors LLC

Childress Capital Advisors LLC grew its stake in shares of American Tower Corporation (NYSE:AMT) by 15.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,845 shares of the real estate investment trust’s stock after acquiring an additional 242 shares during the period. Childress Capital Advisors LLC’s holdings in American Tower were worth $408,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. North Capital Inc. purchased a new position in American Tower in the 1st quarter worth about $25,000. Hopwood Financial Services Inc. boosted its holdings 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 worth $26,000 after buying an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of American Tower in the first quarter worth approximately $31,000. City Holding Co. acquired a new stake in shares of American Tower during the first quarter valued at approximately $39,000. Finally, Saudi Central Bank purchased a new stake in shares of American Tower in the 1st quarter valued at approximately $40,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Raymond James Financial set a $250.00 price target on American Tower and gave the company a “strong-buy” rating in a research report on Wednesday, July 30th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Barclays upped their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $245.00 price target (down from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

American Tower Price Performance

Shares of NYSE:AMT opened at $193.22 on Thursday. The stock has a market capitalization of $90.47 billion, a P/E ratio of 70.26, a P/E/G ratio of 1.19 and a beta of 0.86. The business has a 50-day moving average of $203.12 and a two-hundred day moving average of $212.08. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the firm posted $2.79 EPS. The firm’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. On average, equities research analysts predict 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 will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

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.