Assetmark Inc. Purchases 55,982 Shares of American Tower Corporation $AMT

Assetmark Inc. increased its position in shares of American Tower Corporation (NYSE:AMT) by 283.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,767 shares of the real estate investment trust’s stock after buying an additional 55,982 shares during the quarter. Assetmark Inc.’s holdings in American Tower were worth $16,746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. North Capital Inc. acquired a new stake in American Tower in the 1st quarter valued at $25,000. Hopwood Financial Services Inc. raised its holdings in 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 last quarter. Rosenberg Matthew Hamilton lifted its stake in shares of American Tower by 86.0% in the second quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 80 shares in the last quarter. Saudi Central Bank acquired a new position in shares of American Tower during the first quarter valued at about $40,000. Finally, Accredited Wealth Management LLC increased its position in shares of 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 worth $46,000 after acquiring an additional 135 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.2%

Shares of NYSE:AMT opened at $179.18 on Friday. American Tower Corporation has a 1 year low of $172.51 and a 1 year high of $234.33. The company has a market capitalization of $83.90 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 1.08 and a beta of 0.86. The business has a fifty day moving average price of $192.70 and a two-hundred day moving average price of $208.05. 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 (NYSE:AMT) last released its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 EPS 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 analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $2.52 EPS. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group reiterated a “buy” rating and set a $260.00 price target on shares of American Tower in a research note on Wednesday. Hsbc Global Res cut American Tower from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 30th. BMO Capital Markets lowered their price target on American Tower from $220.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Citigroup reiterated a “market outperform” rating on shares of American Tower in a report on Wednesday. Two research 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 company’s stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $230.88.

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.