Assetmark Inc. Purchases 55,982 Shares of American Tower Corporation $AMT

Assetmark Inc. lifted its position in shares of American Tower Corporation (NYSE:AMT) by 283.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 75,767 shares of the real estate investment trust’s stock after acquiring an additional 55,982 shares during the quarter. Assetmark Inc.’s holdings in American Tower were worth $16,746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. North Capital Inc. bought a new position in American Tower during the first quarter worth about $25,000. Hopwood Financial Services Inc. lifted its stake in shares of American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in 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 buying an additional 80 shares during the period. Saudi Central Bank purchased a new position in American Tower in the 1st quarter valued at approximately $40,000. Finally, Accredited Wealth Management LLC raised its holdings in American Tower by 180.0% during the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 135 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AMT shares. Barclays raised their price target on American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Jefferies Financial Group decreased their price target on American Tower from $281.00 to $226.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Morgan Stanley cut their price objective on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of American Tower in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $230.88.

American Tower Stock Down 0.2%

Shares of NYSE:AMT opened at $179.18 on Friday. The firm has a market capitalization of $83.90 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.95 and a current ratio of 0.89. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The firm has a fifty day moving average of $192.70 and a 200 day moving average of $208.05.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the business posted $2.52 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.8%. American Tower’s dividend payout ratio is currently 108.63%.

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.