Angeles Wealth Management LLC Acquires 390 Shares of American Tower Corporation $AMT

Angeles Wealth Management LLC lifted its position in American Tower Corporation (NYSE:AMT) by 25.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,895 shares of the real estate investment trust’s stock after purchasing an additional 390 shares during the quarter. Angeles Wealth Management LLC’s holdings in American Tower were worth $419,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. North Capital Inc. bought a new stake in shares of American Tower in the 1st quarter worth about $25,000. Hopwood Financial Services Inc. grew its holdings in shares of American Tower by 100.0% in the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of American Tower in the 1st quarter worth about $31,000. Rosenberg Matthew Hamilton grew its holdings in shares of American Tower by 86.0% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Finally, Saudi Central Bank bought a new stake in shares of American Tower in the 1st quarter worth about $40,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMT. Raymond James Financial set a $250.00 price objective on shares of American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their price objective 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. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Wells Fargo & Company decreased their price objective on shares of American Tower from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Finally, HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.00.

American Tower Stock Performance

American Tower stock opened at $191.60 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The company has a market cap of $89.72 billion, a PE ratio of 69.67, a PEG ratio of 1.16 and a beta of 0.86. The company’s 50-day moving average is $196.63 and its two-hundred day moving average is $209.89.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.58 billion. During the same period in the prior year, the company posted $2.79 EPS. The company’s revenue 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. Equities analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 30th. 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 stock in a transaction that occurred 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 sale, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

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.