American Tower Corporation $AMT Stock Position Lessened by FRG Family Wealth Advisors LLC

FRG Family Wealth Advisors LLC decreased its holdings in American Tower Corporation (NYSE:AMT) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,165 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. American Tower accounts for approximately 0.8% of FRG Family Wealth Advisors LLC’s holdings, making the stock its 28th largest position. FRG Family Wealth Advisors LLC’s holdings in American Tower were worth $4,678,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Focus Financial Network Inc. boosted its stake 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 valued at $451,000 after buying an additional 170 shares in the last quarter. Resolution Capital Ltd bought a new position in American Tower during the first quarter valued at about $72,706,000. Stack Financial Management Inc bought a new position in American Tower during the second quarter valued at about $13,020,000. Golden State Wealth Management LLC boosted its stake in American Tower by 23.0% during the first quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 69 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in 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 buying an additional 54,360 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMT. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a research note on Tuesday, July 29th. Royal Bank Of Canada set a $220.00 target price on American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. BMO Capital Markets reduced their target price on American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $231.00 target price (down from $250.00) on shares of American Tower in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.31.

American Tower Trading Down 2.0%

Shares of NYSE AMT opened at $179.13 on Thursday. The business has a fifty day simple moving average of $193.96 and a 200-day simple moving average of $208.52. The company has a market cap of $83.88 billion, a price-to-earnings ratio of 28.61, a P/E/G ratio of 1.11 and a beta of 0.86. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $234.33.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Sell-side analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

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