Highland Capital Management LLC Makes New $2.26 Million Investment in American Tower Corporation $AMT

Highland Capital Management LLC acquired a new position in shares of American Tower Corporation (NYSE:AMT) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 10,204 shares of the real estate investment trust’s stock, valued at approximately $2,255,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMT. North Capital Inc. purchased a new position in American Tower during the 1st quarter worth $25,000. Hopwood Financial Services Inc. grew its position in American Tower by 100.0% during the 1st quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in American Tower during the 1st quarter worth $31,000. City Holding Co. purchased a new position in American Tower during the 1st quarter worth $39,000. Finally, Saudi Central Bank purchased a new position in American Tower during the 1st quarter worth $40,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 0.6%

Shares of NYSE AMT opened at $190.10 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 3.36. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The firm has a 50-day moving average price of $201.53 and a 200 day moving average price of $211.75. The stock has a market capitalization of $89.01 billion, a price-to-earnings ratio of 69.13, a price-to-earnings-growth ratio of 1.17 and a beta of 0.86.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the business 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. Equities research analysts anticipate that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.70 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. American Tower’s payout ratio is presently 247.27%.

Analyst Ratings Changes

Several analysts have recently weighed in on AMT shares. Barclays lifted their target price 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. Hsbc Global Res downgraded shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, July 29th. Wall Street Zen downgraded shares of American Tower from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Raymond James Financial set a $250.00 target price on shares of American Tower and gave the company a “strong-buy” rating in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $242.07.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.17% of the company’s stock.

American Tower 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.