American Tower Corporation $AMT Shares Purchased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC lifted its position in American Tower Corporation (NYSE:AMT) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,057 shares of the real estate investment trust’s stock after purchasing an additional 2,187 shares during the quarter. American Tower makes up 0.7% of Soltis Investment Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Soltis Investment Advisors LLC’s holdings in American Tower were worth $8,632,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AMT. Nuveen LLC acquired a new stake in shares of American Tower in the 1st quarter valued at about $991,525,000. Price T Rowe Associates Inc. MD boosted its position in shares of 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 purchasing an additional 2,309,627 shares during the period. Alyeska Investment Group L.P. purchased a new stake in American Tower during the 1st quarter valued at approximately $162,127,000. Amundi raised its stake in American Tower by 35.5% during the 1st quarter. Amundi now owns 2,838,421 shares of the real estate investment trust’s stock valued at $645,694,000 after acquiring an additional 743,617 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in American Tower by 490.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 650,789 shares of the real estate investment trust’s stock valued at $141,612,000 after acquiring an additional 540,648 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Performance

NYSE AMT opened at $179.43 on Thursday. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The company has a market capitalization of $84.02 billion, a P/E ratio of 28.66, a PEG ratio of 1.08 and a beta of 0.86. The business has a 50 day moving average price of $190.99 and a 200 day moving average price of $207.09. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95.

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

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were given a dividend of $1.70 per share. 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 (DPR) is presently 108.63%.

Analysts Set New Price Targets

Several analysts have commented on the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $231.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. Morgan Stanley reduced their price objective on American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Citigroup reissued a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Wells Fargo & Company cut their target price on American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. cut their target price on American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $231.11.

Insiders Place Their Bets

In related news, Director Eugene F. Reilly purchased 5,554 shares of the company’s stock in a transaction on Friday, October 31st. The stock was bought at an average price of $178.99 per share, with a total value of $994,110.46. Following the completion of the transaction, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% 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.