Equitable Trust Co. Has $1.07 Million Position in American Tower Corporation $AMT

Equitable Trust Co. grew its position in American Tower Corporation (NYSE:AMT) by 3.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,827 shares of the real estate investment trust’s stock after purchasing an additional 167 shares during the quarter. Equitable Trust Co.’s holdings in American Tower were worth $1,067,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Financial Network Inc. lifted its stake in American Tower by 9.1% in the 2nd quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 170 shares during the last quarter. Resolution Capital Ltd bought a new position in American Tower in the 1st quarter valued at approximately $72,706,000. Golden State Wealth Management LLC lifted its stake in American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 69 shares during the last quarter. Shum Financial Group Inc. lifted its stake in American Tower by 3.5% in the 1st quarter. Shum Financial Group Inc. now owns 4,196 shares of the real estate investment trust’s stock valued at $913,000 after purchasing an additional 141 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in American Tower by 126.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after purchasing an additional 54,360 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 1.8%

AMT opened at $186.43 on Wednesday. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. The company has a fifty day moving average of $197.68 and a 200-day moving average of $210.40. The stock has a market cap of $87.30 billion, a PE ratio of 67.79, a price-to-earnings-growth ratio of 1.11 and a beta of 0.86.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping 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 company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the company posted $2.79 earnings per share. American Tower’s revenue for the quarter was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. American Tower’s dividend payout ratio is 247.27%.

Analyst Ratings Changes

Several equities analysts recently commented on AMT shares. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, BMO Capital Markets restated 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. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $241.06.

Insider Buying and Selling at American Tower

In other news, CEO Juan Font sold 720 shares of the 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 in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

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.