Spinnaker Trust Buys 125 Shares of American Tower Corporation $AMT

Spinnaker Trust lifted its stake in shares of American Tower Corporation (NYSE:AMT) by 5.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,409 shares of the real estate investment trust’s stock after acquiring an additional 125 shares during the quarter. Spinnaker Trust’s holdings in American Tower were worth $532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. North Capital Inc. bought a new position in American Tower during the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. increased its position in shares of American Tower by 100.0% during the first 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. Rosenberg Matthew Hamilton raised its stake in American Tower by 86.0% during the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Saudi Central Bank acquired a new position in American Tower in the first quarter valued at $40,000. Finally, Accredited Wealth Management LLC boosted its position in American Tower by 180.0% during the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 135 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AMT shares. Argus set a $210.00 price objective on American Tower in a research report on Thursday. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Wells Fargo & Company dropped their price target on American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday. Morgan Stanley reduced their price objective on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Finally, Wall Street Zen upgraded shares of American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.88.

American Tower Stock Up 0.3%

American Tower stock opened at $179.60 on Friday. The firm has a market capitalization of $84.10 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86. The firm’s fifty day moving average price is $193.35 and its two-hundred day moving average price is $208.32. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $234.33. The company has a current ratio of 0.89, a quick ratio of 0.95 and a debt-to-equity ratio of 3.24.

American Tower (NYSE:AMT) last posted its 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 company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, equities research analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors 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 3.8%. American Tower’s payout ratio is presently 247.27%.

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.