Waterloo Capital L.P. Purchases 1,119 Shares of American Tower Corporation $AMT

Waterloo Capital L.P. raised its position in American Tower Corporation (NYSE:AMT) by 11.6% in the 2nd quarter, Holdings Channel reports. The firm owned 10,744 shares of the real estate investment trust’s stock after buying an additional 1,119 shares during the quarter. Waterloo Capital L.P.’s holdings in American Tower were worth $2,375,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AMT. Hopwood Financial Services Inc. raised its position in shares of American Tower by 100.0% in the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in American Tower in the 2nd quarter worth about $31,000. VSM Wealth Advisory LLC raised its holdings in shares of American Tower by 136.4% in the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 90 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of American Tower by 86.0% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 173 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Finally, Saudi Central Bank bought a new position in shares of American Tower in the first quarter worth approximately $40,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMT shares. TD Cowen dropped their target price on shares of American Tower from $249.00 to $235.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Morgan Stanley dropped their price objective on shares of American Tower from $270.00 to $235.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. UBS Group reissued a “buy” rating and issued a $260.00 target price on shares of American Tower in a research note on Wednesday, October 29th. Royal Bank Of Canada set a $220.00 price target on American Tower and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Finally, Jefferies Financial Group cut their price objective on American Tower from $281.00 to $226.00 and set a “buy” rating for the company in a report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.44.

American Tower Stock Performance

American Tower stock opened at $179.56 on Monday. The firm has a fifty day simple moving average of $186.92 and a two-hundred day simple moving average of $203.78. 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 Corporation has a twelve month low of $172.51 and a twelve month high of $234.33. The company has a market capitalization of $84.06 billion, a PE ratio of 28.68, a P/E/G ratio of 1.08 and a beta of 0.85.

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, beating analysts’ consensus estimates of $2.64 by $0.14. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $2.52 earnings per share. American Tower has set its FY 2025 guidance at 10.600-10.720 EPS. Research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business 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. The ex-dividend date was Tuesday, September 30th. This represents a $6.80 annualized dividend and a yield of 3.8%. American Tower’s payout ratio is presently 108.63%.

Insider Buying and Selling at American Tower

In other news, Director Eugene F. Reilly bought 5,554 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $178.99 per share, for a total transaction of $994,110.46. Following the completion of the acquisition, the director owned 5,689 shares of the company’s stock, valued at approximately $1,018,274.11. This trade represents a 4,114.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

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.