Concurrent Investment Advisors LLC Boosts Stock Holdings in American Tower Corporation $AMT

Concurrent Investment Advisors LLC lifted its holdings in American Tower Corporation (NYSE:AMT) by 8.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,699 shares of the real estate investment trust’s stock after acquiring an additional 273 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in American Tower were worth $817,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Blossom Wealth Management grew 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 during the period. TFG Advisers LLC boosted its holdings in American Tower by 0.3% in the 2nd quarter. TFG Advisers LLC now owns 16,186 shares of the real estate investment trust’s stock valued at $3,578,000 after purchasing an additional 47 shares during the last quarter. Novem Group grew its stake in shares of American Tower by 3.8% in the 2nd quarter. Novem Group now owns 1,316 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 48 shares during the period. Elmwood Wealth Management Inc. increased its holdings in shares of American Tower by 2.5% during the 1st quarter. Elmwood Wealth Management Inc. now owns 2,087 shares of the real estate investment trust’s stock worth $454,000 after buying an additional 50 shares during the last quarter. Finally, 4J Wealth Management LLC raised its position in shares of American Tower by 4.0% during the 1st quarter. 4J Wealth Management LLC now owns 1,301 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 50 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other American Tower news, CEO Juan Font sold 720 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total value of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMT shares. Raymond James Financial set a $250.00 price objective on American Tower and gave the stock a “strong-buy” rating in a research report on Wednesday, July 30th. Citigroup lowered their price target on American Tower from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday. Barclays boosted their price objective on shares of American Tower from $246.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. Finally, Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.50.

American Tower Price Performance

AMT opened at $191.44 on Friday. The stock’s 50-day moving average price is $196.93 and its 200 day moving average price is $210.08. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $234.33. The firm has a market cap of $89.64 billion, a price-to-earnings ratio of 69.61, a PEG ratio of 1.15 and a beta of 0.86. 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 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 net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the firm earned $2.79 earnings per share. The business’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. As a group, sell-side analysts expect that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 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.