10,204 Shares in American Tower Corporation $AMT Acquired by Highland Capital Management LLC

Highland Capital Management LLC acquired a new position in shares of American Tower Corporation (NYSE:AMT) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,204 shares of the real estate investment trust’s stock, valued at approximately $2,255,000.

A number of other hedge funds have also recently made changes to their positions in the stock. North Capital Inc. acquired a new stake in American Tower during the 1st quarter worth approximately $25,000. Hopwood Financial Services Inc. lifted its holdings 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 buying an additional 60 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in American Tower during the 1st quarter worth approximately $31,000. City Holding Co. acquired a new stake in American Tower during the 1st quarter worth approximately $39,000. Finally, Saudi Central Bank acquired a new stake in American Tower during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, CEO Juan Font sold 720 shares of American Tower 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 sale, the chief executive officer directly owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

American Tower Price Performance

Shares of NYSE:AMT opened at $190.10 on Friday. The company’s fifty day moving average price is $201.53 and its 200 day moving average price is $211.75. American Tower Corporation has a 12 month low of $172.51 and a 12 month 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. The firm has a market capitalization of $89.01 billion, a P/E ratio of 69.13, a P/E/G ratio of 1.17 and a beta of 0.86.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the business earned $2.79 EPS. American Tower’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. As a group, sell-side analysts predict that American Tower Corporation will post 10.14 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMT. JPMorgan Chase & Co. increased their target price on shares of American Tower from $250.00 to $255.00 and gave the stock an “overweight” rating 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. Barclays raised their price objective 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. Weiss Ratings restated a “hold (c-)” rating on shares of American Tower in a report on Saturday, September 27th. Finally, Wall Street Zen lowered shares of American Tower from a “hold” rating to a “sell” rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $242.07.

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.