Grimes & Company Inc. Purchases 146 Shares of American Tower Corporation $AMT

Grimes & Company Inc. boosted its position in American Tower Corporation (NYSE:AMT) by 13.5% in the second quarter, HoldingsChannel.com reports. The firm owned 1,228 shares of the real estate investment trust’s stock after acquiring an additional 146 shares during the period. Grimes & Company Inc.’s holdings in American Tower were worth $271,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AMT. North Capital Inc. acquired a new position in shares of American Tower during the first quarter valued at about $25,000. Hopwood Financial Services Inc. increased its holdings in shares of 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 acquiring an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower during the first quarter valued at about $31,000. City Holding Co. acquired a new position in shares of American Tower during the first quarter valued at about $39,000. Finally, Saudi Central Bank acquired a new position in shares of American Tower during the first quarter valued at about $40,000. 92.69% of the stock is currently owned by institutional investors.

Insider Activity at American Tower

In other news, CEO Juan Font sold 720 shares of the firm’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 owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AMT shares. The Goldman Sachs Group restated a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. UBS Group increased their price target on shares of American Tower from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $245.00 price target (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Wall Street Zen downgraded shares of American Tower from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Barclays increased their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $242.07.

American Tower Price Performance

Shares of NYSE AMT opened at $186.71 on Wednesday. The stock has a market capitalization of $87.43 billion, a price-to-earnings ratio of 67.89, a PEG ratio of 1.15 and a beta of 0.86. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33. The firm’s 50 day simple moving average is $200.19 and its 200-day simple moving average is $211.34. 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, topping analysts’ consensus estimates of $2.59 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business’s revenue was down 9.4% on a year-over-year basis. During the same quarter last year, the company earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

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 paid a dividend of $1.70 per share. 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 3.6%. American Tower’s dividend payout ratio (DPR) is presently 247.27%.

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.