WealthShield Partners LLC Trims Position in American Tower Corporation $AMT

WealthShield Partners LLC cut its holdings in American Tower Corporation (NYSE:AMT) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,567 shares of the real estate investment trust’s stock after selling 429 shares during the period. WealthShield Partners LLC’s holdings in American Tower were worth $2,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hopwood Financial Services Inc. grew its holdings in 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 valued at $26,000 after buying an additional 60 shares during the period. Legacy Investment Solutions LLC acquired a new position in American Tower during the second quarter worth approximately $31,000. Rosenberg Matthew Hamilton boosted 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 valued at $38,000 after purchasing an additional 80 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of American Tower during the 1st quarter valued at $40,000. Finally, Accredited Wealth Management LLC raised its position in shares of American Tower by 180.0% in the 1st quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 135 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of several research analyst reports. UBS Group restated a “buy” rating and set a $260.00 price target on shares of American Tower in a research note on Wednesday, October 29th. Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of American Tower in a research note on Thursday. Barclays increased their price target on American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, October 17th. Finally, BMO Capital Markets decreased their target price on American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.11.

American Tower Price Performance

Shares of NYSE AMT opened at $183.58 on Friday. The business has a 50 day moving average price of $188.36 and a two-hundred day moving average price of $205.54. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The firm has a market cap of $85.94 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 1.08 and a beta of 0.85. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24.

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, topping analysts’ consensus estimates of $2.64 by $0.14. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.52 earnings per share. 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 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders 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 dividend yield of 3.7%. American Tower’s dividend payout ratio (DPR) is presently 108.63%.

Insider Activity at American Tower

In other news, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the purchase, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

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.