Loudon Investment Management LLC Buys 760 Shares of American Tower Corporation $AMT

Loudon Investment Management LLC increased its stake in American Tower Corporation (NYSE:AMT) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,728 shares of the real estate investment trust’s stock after purchasing an additional 760 shares during the quarter. American Tower makes up approximately 1.8% of Loudon Investment Management LLC’s portfolio, making the stock its 18th biggest holding. Loudon Investment Management LLC’s holdings in American Tower were worth $3,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. Nuveen LLC bought a new stake in shares of American Tower in the first quarter valued at $991,525,000. Price T Rowe Associates Inc. MD raised its stake in American Tower by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,144,040 shares of the real estate investment trust’s stock valued at $1,772,144,000 after acquiring an additional 2,309,627 shares during the period. Bessemer Group Inc. lifted its holdings in American Tower by 272.0% during the first quarter. Bessemer Group Inc. now owns 1,136,903 shares of the real estate investment trust’s stock valued at $247,390,000 after purchasing an additional 831,247 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in American Tower during the first quarter worth about $162,127,000. Finally, Amundi increased its stake in shares of American Tower by 35.5% in the first quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock worth $645,694,000 after purchasing an additional 743,617 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Performance

NYSE:AMT opened at $191.76 on Wednesday. The stock has a market cap of $89.79 billion, a P/E ratio of 69.73, a PEG ratio of 1.20 and a beta of 0.86. 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 business’s 50-day moving average price is $203.87 and its two-hundred day moving average price is $212.22. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.47.

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 for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the business earned $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. As a group, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business 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 3.5%. American Tower’s dividend payout ratio (DPR) is 247.27%.

Analyst Ratings Changes

AMT has been the topic of a number of recent research reports. BMO Capital Markets restated 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. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price on the stock. in a research report on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Barclays increased their price objective on American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Wells Fargo & Company reduced their target price on American Tower from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Two investment 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.73.

Insider Transactions 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 value of $149,997.60. Following the completion of the transaction, the chief executive officer directly owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

About American Tower

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.