Carrera Capital Advisors Takes Position in American Tower Corporation $AMT

Carrera Capital Advisors purchased a new stake in shares of American Tower Corporation (NYSE:AMT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,249 shares of the real estate investment trust’s stock, valued at approximately $3,618,000. American Tower makes up approximately 0.7% of Carrera Capital Advisors’ portfolio, making the stock its 29th biggest position.

Other institutional investors also recently modified their holdings of the company. North Capital Inc. purchased a new stake in shares of American Tower during the first quarter valued at $25,000. Hopwood Financial Services Inc. boosted its position in American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Rosenberg Matthew Hamilton boosted its position in American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Saudi Central Bank purchased a new position in American Tower in the first quarter worth about $40,000. Finally, Accredited Wealth Management LLC boosted its position in American Tower by 180.0% in the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 135 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 0.6%

Shares of AMT opened at $191.36 on Friday. The business’s 50 day moving average is $195.30 and its 200 day moving average is $209.02. The company has a market capitalization of $89.60 billion, a PE ratio of 69.58, a price-to-earnings-growth ratio of 1.15 and a beta of 0.86. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

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

American Tower Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.6%. 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 stock was sold at an average price of $208.33, for a total value of $149,997.60. Following the sale, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on AMT shares. Citigroup dropped their target price on American Tower from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. 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. Barclays raised their target price on American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. The Goldman Sachs Group reissued a “buy” rating on shares of American Tower in a research report on Tuesday, July 29th. Finally, Jefferies Financial Group lowered their price objective 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. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.75.

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.