Cabot Wealth Management Inc. Purchases 1,241 Shares of American Tower Corporation $AMT

Cabot Wealth Management Inc. grew its position in shares of American Tower Corporation (NYSE:AMT) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,153 shares of the real estate investment trust’s stock after buying an additional 1,241 shares during the quarter. Cabot Wealth Management Inc.’s holdings in American Tower were worth $11,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of American Tower by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 62,809,486 shares of the real estate investment trust’s stock worth $13,667,344,000 after purchasing an additional 434,118 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 worth $1,772,144,000 after purchasing an additional 2,309,627 shares in the last quarter. Deutsche Bank AG increased its stake in shares of American Tower by 4.0% in the 1st quarter. Deutsche Bank AG now owns 7,383,368 shares of the real estate investment trust’s stock worth $1,606,621,000 after purchasing an additional 285,195 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of American Tower by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,534,862 shares of the real estate investment trust’s stock worth $1,421,965,000 after purchasing an additional 88,120 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of American Tower by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust’s stock worth $1,335,407,000 after purchasing an additional 220,565 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Activity at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a research note on Friday. JPMorgan Chase & Co. upped their price objective on American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. HSBC lowered American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective for the company. in a research note on Wednesday, July 30th. Citigroup cut their price target on American Tower from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Finally, Jefferies Financial Group cut their price target on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $236.75.

American Tower Trading Up 0.6%

Shares of AMT stock opened at $191.36 on Friday. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $89.60 billion, a PE ratio of 69.58, a PEG ratio of 1.16 and a beta of 0.86. The stock has a fifty day simple moving average of $195.30 and a two-hundred day simple moving average of $209.06.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business posted $2.79 EPS. American Tower’s revenue for the quarter 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. On average, analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 30th. American Tower’s dividend payout ratio is 247.27%.

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.