Lord & Richards Wealth Management LLC Has $1.37 Million Stake in American Tower Corporation $AMT

Lord & Richards Wealth Management LLC lifted its stake in shares of American Tower Corporation (NYSE:AMT) by 7.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,200 shares of the real estate investment trust’s stock after buying an additional 449 shares during the period. American Tower accounts for about 1.4% of Lord & Richards Wealth Management LLC’s investment portfolio, making the stock its 20th biggest holding. Lord & Richards Wealth Management LLC’s holdings in American Tower were worth $1,370,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AMT. Focus Financial Network Inc. raised its stake in shares of American Tower by 9.1% during the 2nd 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 period. Resolution Capital Ltd bought a new stake in shares of American Tower during the 1st quarter worth $72,706,000. Stack Financial Management Inc bought a new stake in American Tower in the 2nd quarter valued at about $13,020,000. Golden State Wealth Management LLC raised its stake in American Tower by 23.0% in the 1st quarter. Golden State Wealth Management LLC now owns 369 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 69 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its stake in American Tower by 126.0% in the 1st 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 period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded American Tower from a “sell” rating to a “hold” rating in a research note on Sunday, October 12th. HSBC lowered their price objective on American Tower from $235.00 to $205.00 in a research note on Wednesday, October 29th. Citigroup restated a “market outperform” rating on shares of American Tower in a research note on Wednesday, October 29th. Morgan Stanley lowered their price objective on American Tower from $270.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $231.00 price objective (down from $250.00) on shares of American Tower in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.11.

American Tower Stock Down 1.1%

AMT stock opened at $177.00 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a market capitalization of $82.88 billion, a PE ratio of 28.28, a PEG ratio of 1.08 and a beta of 0.86. American Tower Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The stock has a 50-day simple moving average of $192.02 and a two-hundred day simple moving average of $207.59.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.14. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the firm earned $2.52 EPS. The company’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. On average, equities analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.8%. American Tower’s payout ratio is presently 108.63%.

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.