Prime Capital Investment Advisors LLC Has $1.17 Million Holdings in American Tower Corporation $AMT

Prime Capital Investment Advisors LLC increased its position in American Tower Corporation (NYSE:AMT) by 11.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,312 shares of the real estate investment trust’s stock after purchasing an additional 562 shares during the period. Prime Capital Investment Advisors LLC’s holdings in American Tower were worth $1,174,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. North Capital Inc. acquired a new position in American Tower during the first quarter valued at $25,000. Hopwood Financial Services Inc. grew its stake 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 valued at $26,000 after acquiring an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower in the 1st quarter valued at about $31,000. City Holding Co. purchased a new stake in shares of American Tower in the first quarter worth approximately $39,000. Finally, Saudi Central Bank acquired a new stake in shares of American Tower during the first quarter worth approximately $40,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of NYSE:AMT opened at $185.46 on Thursday. The stock has a market capitalization of $86.84 billion, a P/E ratio of 67.44, a P/E/G ratio of 1.15 and a beta of 0.86. The business has a 50-day moving average of $199.72 and a two-hundred day moving average of $211.16. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.95.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%.The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the business earned $2.79 EPS. The firm’s revenue 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. On average, equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 30th. American Tower’s payout ratio is presently 247.27%.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the company’s stock in a transaction on 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 sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at approximately $4,880,130.25. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of several research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of American Tower in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Barclays upped their price target on shares of American Tower from $246.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Wall Street Zen cut American Tower from a “hold” rating to a “sell” rating in a research report on Saturday, October 4th. Finally, Royal Bank Of Canada set a $220.00 target price on American Tower and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $242.07.

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.