2,843 Shares in American Tower Corporation $AMT Purchased by Divergent Planning LLC

Divergent Planning LLC purchased a new stake in shares of American Tower Corporation (NYSE:AMT) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,843 shares of the real estate investment trust’s stock, valued at approximately $628,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in American Tower by 0.7% during the first quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock worth $13,667,344,000 after buying an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in American Tower by 39.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock worth $1,772,144,000 after acquiring an additional 2,309,627 shares during the last quarter. Deutsche Bank AG grew its stake in shares of American Tower by 4.0% in the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock worth $1,606,621,000 after acquiring an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of American Tower by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock worth $1,421,965,000 after acquiring an additional 88,120 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of American Tower by 3.7% in the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock valued at $1,335,407,000 after purchasing an additional 220,565 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMT shares. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Jefferies Financial Group cut their target price on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Finally, BMO Capital Markets reduced their price objective on American Tower from $245.00 to $220.00 and set an “outperform” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $236.75.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Performance

NYSE:AMT opened at $192.89 on Tuesday. The company has a market capitalization of $90.32 billion, a P/E ratio of 70.14, a P/E/G ratio of 1.16 and a beta of 0.86. The business has a fifty day simple moving average of $196.37 and a two-hundred day simple moving average of $209.51. 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 Corporation has a 1 year low of $172.51 and a 1 year high of $234.33.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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 firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The business’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, analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

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.