Camelot Portfolios LLC Acquires 2,438 Shares of American Tower Corporation $AMT

Camelot Portfolios LLC boosted its holdings in shares of American Tower Corporation (NYSE:AMT) by 118.4% in the second quarter, Holdings Channel reports. The firm owned 4,497 shares of the real estate investment trust’s stock after purchasing an additional 2,438 shares during the quarter. Camelot Portfolios LLC’s holdings in American Tower were worth $994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tritonpoint Wealth LLC raised its stake in shares of American Tower by 6.5% in the second quarter. Tritonpoint Wealth LLC now owns 1,077 shares of the real estate investment trust’s stock valued at $240,000 after acquiring an additional 66 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of American Tower by 150.1% in the second quarter. Avior Wealth Management LLC now owns 2,206 shares of the real estate investment trust’s stock valued at $488,000 after purchasing an additional 1,324 shares in the last quarter. Blossom Wealth Management increased its holdings in shares of American Tower by 1.8% in the second quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 45 shares in the last quarter. LVW Advisors LLC increased its holdings in shares of American Tower by 24.9% in the second quarter. LVW Advisors LLC now owns 7,219 shares of the real estate investment trust’s stock valued at $1,596,000 after purchasing an additional 1,437 shares in the last quarter. Finally, TOWER TRUST & INVESTMENT Co increased its holdings in shares of American Tower by 3.1% in the second quarter. TOWER TRUST & INVESTMENT Co now owns 5,072 shares of the real estate investment trust’s stock valued at $1,121,000 after purchasing an additional 152 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower 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 transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AMT. Royal Bank Of Canada raised their price target on shares of American Tower from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Barclays lifted their target price on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. HSBC lowered shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 target price for the company. in a report on Wednesday, July 30th. Raymond James Financial set a $250.00 target price on shares of American Tower and gave the stock a “strong-buy” rating in a report on Wednesday, July 30th. Finally, UBS Group boosted their price target on shares of American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

American Tower Trading Up 0.4%

Shares of NYSE:AMT opened at $194.40 on Friday. The company’s 50-day moving average price is $205.32 and its two-hundred day moving average price is $212.44. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95. American Tower Corporation has a one year low of $172.51 and a one year high of $234.47. The stock has a market capitalization of $91.03 billion, a PE ratio of 70.69, a price-to-earnings-growth ratio of 1.20 and a beta of 0.86.

American Tower (NYSE:AMT) last issued 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. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.58 billion. American Tower had a net margin of 12.60% and a return on equity of 24.85%. American Tower’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.79 EPS. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. On average, equities analysts forecast 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 will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a $1.70 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.5%. American Tower’s dividend payout ratio is 247.27%.

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.