3,661 Shares in American Tower Corporation $AMT Acquired by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC purchased a new stake in American Tower Corporation (NYSE:AMT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,661 shares of the real estate investment trust’s stock, valued at approximately $809,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMT. Blossom Wealth Management lifted its position in shares of American Tower by 1.8% during the 2nd quarter. Blossom Wealth Management now owns 2,601 shares of the real estate investment trust’s stock valued at $575,000 after acquiring an additional 45 shares during the period. TFG Advisers LLC grew its holdings in American Tower by 0.3% in the second quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock worth $3,578,000 after purchasing an additional 47 shares during the period. Novem Group increased its stake in American Tower by 3.8% in the second quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 48 shares in the last quarter. Analyst IMS Investment Management Services Ltd. raised its holdings in shares of American Tower by 3.6% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock valued at $303,000 after purchasing an additional 48 shares during the period. Finally, Marion Wealth Management boosted its position in shares of American Tower by 0.8% during the 2nd quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock worth $1,309,000 after purchasing an additional 48 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

NYSE AMT opened at $179.56 on Friday. The company has a fifty day moving average price of $186.92 and a 200-day moving average price of $204.03. The firm has a market cap of $84.06 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.08 and a beta of 0.85. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.95. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period last year, the firm earned $2.52 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. As a group, equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 30th. American Tower’s payout ratio is presently 108.63%.

Insider Activity

In other American Tower news, Director Eugene F. Reilly purchased 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the completion of the transaction, the director owned 5,689 shares of the company’s stock, valued at $1,018,274.11. The trade was a 4,114.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Argus set a $210.00 price target on American Tower in a research note on Thursday, October 30th. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Barclays reduced their price target on shares of American Tower from $251.00 to $203.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $231.00 price target (down previously from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $228.44.

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.