Ellevest Inc. Has $488,000 Stake in American Tower Corporation $AMT

Ellevest Inc. raised its position in American Tower Corporation (NYSE:AMT) by 18.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,206 shares of the real estate investment trust’s stock after acquiring an additional 337 shares during the quarter. Ellevest Inc.’s holdings in American Tower were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Focus Financial Network Inc. boosted its holdings in American Tower by 9.1% during the second quarter. Focus Financial Network Inc. now owns 2,042 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 170 shares during the last quarter. Resolution Capital Ltd purchased a new position in American Tower during the first quarter worth about $72,706,000. Stack Financial Management Inc purchased a new position in American Tower during the second quarter worth about $13,020,000. Kovitz Investment Group Partners LLC increased its position in shares of American Tower by 126.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 97,495 shares of the real estate investment trust’s stock valued at $21,215,000 after acquiring an additional 54,360 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of American Tower by 1.0% during the second quarter. Nordea Investment Management AB now owns 1,532,818 shares of the real estate investment trust’s stock valued at $334,430,000 after acquiring an additional 15,920 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMT. Barclays increased their price target on American Tower from $250.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. Wall Street Zen raised shares of American Tower from a “sell” rating to a “hold” rating in a report on Sunday, October 12th. Wells Fargo & Company cut their price target on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, October 29th. Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Finally, Jefferies Financial Group decreased their price target on shares of 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 analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $231.11.

Insider Buying and Selling at American Tower

In other news, Director Eugene F. Reilly acquired 5,554 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average cost of $178.99 per share, with a total value of $994,110.46. Following the acquisition, the director owned 5,689 shares in the company, valued at approximately $1,018,274.11. This represents a 4,114.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

American Tower Trading Down 0.5%

Shares of AMT opened at $179.43 on Thursday. The firm’s 50 day simple moving average is $190.99 and its 200 day simple moving average is $207.09. The company has a market capitalization of $84.02 billion, a P/E ratio of 28.66, a P/E/G ratio of 1.08 and a beta of 0.86. 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 announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the business earned $2.52 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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 $1.70 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.8%. American Tower’s payout ratio is 108.63%.

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.