Relyea Zuckerberg Hanson LLC Increases Stock Holdings in American Tower Corporation $AMT

Relyea Zuckerberg Hanson LLC raised its stake in shares of American Tower Corporation (NYSE:AMT) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,430 shares of the real estate investment trust’s stock after purchasing an additional 82 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in American Tower were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AMT. Brighton Jones LLC boosted its position in American Tower by 113.0% during the 4th quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock valued at $727,000 after acquiring an additional 2,104 shares in the last quarter. Congress Asset Management Co. purchased a new position in shares of American Tower in the 1st quarter valued at approximately $203,000. Sivia Capital Partners LLC bought a new stake in shares of American Tower during the first quarter valued at approximately $234,000. Wedmont Private Capital grew its stake in American Tower by 7.6% in the first quarter. Wedmont Private Capital now owns 3,038 shares of the real estate investment trust’s stock worth $648,000 after purchasing an additional 214 shares during the period. Finally, Miracle Mile Advisors LLC raised its holdings in American Tower by 25.4% in the first quarter. Miracle Mile Advisors LLC now owns 4,679 shares of the real estate investment trust’s stock worth $1,018,000 after purchasing an additional 949 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 2.5%

NYSE:AMT opened at $185.46 on Tuesday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $86.84 billion, a P/E ratio of 67.44, a P/E/G ratio of 1.17 and a beta of 0.86. American Tower Corporation has a fifty-two week low of $172.51 and a fifty-two week high of $234.33. The firm has a 50-day simple moving average of $200.75 and a two-hundred day simple moving average of $211.51.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the company posted $2.79 earnings per share. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, September 30th. This represents a $6.80 annualized dividend and a dividend yield of 3.7%. American Tower’s payout ratio is currently 247.27%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMT. Royal Bank Of Canada set a $220.00 target price on shares of American Tower and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of American Tower in a research report on Saturday, September 27th. HSBC cut shares of American Tower from a “buy” rating to a “hold” rating and set a $235.00 price objective on the stock. in a report on Wednesday, July 30th. Hsbc Global Res lowered shares of American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $245.00 price target (down from $250.00) on shares of American Tower in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $242.07.

Insider Activity

In related news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

About American Tower

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.