Burney Co. Increases Position in American Tower Corporation $AMT

Burney Co. increased its position in shares of American Tower Corporation (NYSE:AMT) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,027 shares of the real estate investment trust’s stock after purchasing an additional 2,624 shares during the period. Burney Co.’s holdings in American Tower were worth $6,194,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. 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 valued at $26,000 after acquiring an additional 60 shares during the period. Rosenberg Matthew Hamilton boosted 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 worth $38,000 after acquiring an additional 80 shares during the period. Saudi Central Bank purchased a new stake in shares of American Tower during the first quarter worth about $40,000. Accredited Wealth Management LLC grew 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 purchasing an additional 135 shares in the last quarter. Finally, Park Square Financial Group LLC raised its stake in American Tower by 512.8% during the 1st quarter. Park Square Financial Group LLC now owns 239 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.2%

Shares of AMT opened at $179.18 on Monday. The company has a market cap of $83.90 billion, a PE ratio of 28.62, a P/E/G ratio of 1.08 and a beta of 0.86. American Tower Corporation has a 52-week low of $172.51 and a 52-week high of $234.33. The business has a fifty day moving average of $192.70 and a 200 day moving average of $207.91. 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 (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 business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.65 billion. American Tower had a net margin of 28.11% and a return on equity of 28.79%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. On average, sell-side analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th were given 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 108.63%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup restated a “market outperform” rating on shares of American Tower in a research note on Wednesday. Barclays boosted their target price on shares of American Tower from $250.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday, October 17th. JPMorgan Chase & Co. dropped their target price on shares of American Tower from $255.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Wells Fargo & Company reduced 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. Finally, Argus set a $210.00 price target on shares of American Tower in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $231.11.

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.