Forte Capital LLC ADV Raises Stock Holdings in American Tower Corporation $AMT

Forte Capital LLC ADV lifted its stake in American Tower Corporation (NYSE:AMT) by 268.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,218 shares of the real estate investment trust’s stock after acquiring an additional 8,906 shares during the quarter. Forte Capital LLC ADV’s holdings in American Tower were worth $2,701,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Capital Inc. purchased a new stake in American Tower during the first quarter worth about $25,000. Hopwood Financial Services Inc. increased its stake in 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 worth $26,000 after buying an additional 60 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in American Tower in the 1st quarter valued at approximately $31,000. Lowe Wealth Advisors LLC boosted its holdings in American Tower by 218.0% in the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 109 shares during the period. Finally, City Holding Co. purchased a new stake in American Tower during the 1st quarter worth about $39,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.1%

Shares of American Tower stock opened at $193.44 on Tuesday. The business’s fifty day moving average is $207.62 and its two-hundred day moving average is $212.91. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $238.34. The firm has a market cap of $90.58 billion, a PE ratio of 70.34, a P/E/G ratio of 1.19 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the firm posted $2.79 EPS. The company’s revenue was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.5%. American Tower’s payout ratio is presently 247.27%.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of American Tower 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 transaction, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price 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. Raymond James Financial set a $250.00 target price on American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $245.00 target price (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Barclays upped their target price on American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. increased their price objective on American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $244.73.

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.